After putting CNN+ out of its misery earlier this year, executives at Warner Bros. Discovery have wielded the ax once again, this time laying off dozens of employees at HBO Max.
“Although I am confident these structural changes will allow us to sustain a thriving business model, these decisions have been extremely painful to make,” he wrote.
“We operate in an environment where we must adapt in real-time to industry and company exigencies. None of this lessens the blow of parting ways with such talented, trusted, hardworking, and celebrated teammates.” Tony Goncalves, Chief Executive Officer of Otter Media, speaks onstage at HBO Max WarnerMedia Investor Day Presentation at Warner Bros. Studios on October 29, 2019 in Burbank, California.
Warner Bros. Discovery recently announced plans to merge HBO Max and the Discovery+ streaming service into a single entity next year. Monday’s layoffs are the latest reductions coming from CEO David Zaslav, who has promised to find at least $3 billion in savings in the merged company.after less than a month of operation. The highly touted streaming service cost an estimated $300 million but only managed to attract a paltry 150,000 subscribers.
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