WBD to eliminate up to 1,000 US jobs in another round of layoffs

The new cuts will target the studios' finance, business affairs and production departments, with fewer than 10 Max staffers affected.
July 17, 2024

Warner Bros. Discovery is implementing a new wave of layoffs as part of its continuing efforts to reduce costs in a weakened entertainment industry. 

These cuts will impact up to 1,000 staffers working in the US, mostly spanning the company’s finance, production and business affairs divisions. A handful of layoffs will also affect WBD’s Max team. 

Yesterday’s announcement comes one week after the studio eliminated 100 positions at CNN, representing 3% of the news network’s workforce. But WBD has made several previous rounds of layoffs since closing its US$43-billion merger two years ago, including cuts at Warner Bros. TV Group (125 staffers) and HBO and HBO Max (70 staffers), and the shutdown of its CNN+ business (350 staffers). 

WBD is set to report its second-quarter earnings on August 7 after the markets close. Last quarter, the company generated US$9.9 billion in revenue, which was down 7% from Q1 2023. Despite Dune: Part Two and Godzilla x Kong: The New Empire both grossing more than US$1.2 billion at the global box office, a 70% drop in profits from WBD’s Studios division offset this theatrical growth. 

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