WarnerMedia to cut costs by 20%, more than 1000 jobs might be lost

WarnerMedia will be facing a series of heavy layoffs as the company begins to consolidate its disparate branches into one larger entity.

“Today, we have arrived at a number of difficult decisions that are resulting in a smaller WarnerMedia team. This is a function of removing layers and the impact of consolidating previously separate organizations. Starting today in North America, we will be sharing which jobs are being eliminated and which roles have changed.”

These were the words of WarnerMedia CEO Jason Kilar in an email sent throughout the company. As reported by the Wall Street Journal, WarnerMedia is looking to cut costs by about 20%, which involves potential layoff numbers in the thousands. While sources indicate that the actual final result will not be as severe as reported, but will still affect around 5-7% of the workforce. Since the company's acquisition by AT&T, the restructuring aims to bring Warner Bros., HBO and Turner Broadcasting, which were once largely autonomous, into a more streamlined entity.

Read more at Game Rant

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