The layoff rumors are coming true: Warner Bros. Discovery, the parent company newly merged into HBO, is cut personnel costs.
Fourteen percent of employees under HBO and HBO Max chief content officer Casey Bloys will be laid off, affecting 70 employees. New York Times report Live programming and no family description for HBO Max, the streaming service, was hit the most. Other cuts have affected HBO Max’s selection, acquisition, and international divisions. Programs with no indicators considered successful will be continued.
This restructuring comes after AT&T’s WarnerMedia Officially Unified with Discovery, Inc. in April. Under the terms of the deal, AT&T received $43 billion in cash and debt. But the company still has $53 billion in debt and is trying cut down the costs to save $3 billion by 2023.
In major tech mergers, layoffs are expected to eliminate redundancies. But fans of the HBO Max show were furious at the rumors of these layoffs, starting circulate in earnest A few weeks ago, there was concern that original scripted shows like “Hacks,” “Our Flag Means Death,” or “The Flight Attendant” would be cancelled. So far, HBO Max’s original scripted shows have not been affected.
That’s why fans care, though. As these rumors spread, the CEO of Warner Bros. Discovery, David Zaslav has announced that the company will pause the DC Comics adaptation of “Batgirl,” despite the completed film and costs. at least 70 million dollars. Zaslav added that a sequel to the Scooby Doo animated film will also not be released. Worse, viewers noticed that HBO Max had quietly removed six original movies from its service, which featured the likes of Anne Hathaway, Seth Rogen, and Cole Sprouse.
It’s been a rough year for the newly merged media mammoth. Warner Bros. Discovery also unplug on its CNN+ streaming service just a month after its launch, costing the company $300 million.
