{"id":94882,"date":"2022-10-12T14:16:59","date_gmt":"2022-10-12T14:16:59","guid":{"rendered":"https:\/\/harchi90.com\/warner-bros-discovery-slashes-more-staff-cuts-departments\/"},"modified":"2022-10-12T14:16:59","modified_gmt":"2022-10-12T14:16:59","slug":"warner-bros-discovery-slashes-more-staff-cuts-departments","status":"publish","type":"post","link":"https:\/\/harchi90.com\/warner-bros-discovery-slashes-more-staff-cuts-departments\/","title":{"rendered":"Warner Bros.  Discovery slashes more staff, cuts departments"},"content":{"rendered":"<div>\n<p>Warner Bros.  Discovery (WBD) has laid off more employees after eliminating 14% of its HBO Max workforce earlier this summer.<\/p>\n<p>On Tuesday, the company&#8217;s television studio cut 26% of its headcount (125 positions) across its scripted, unscripted, and animation divisions \u2014 laying off 82 staffers and opting not to fill an additional 43 vacant positions.<\/p>\n<p>The media giant also shuttered its digital production arm Stage 13 and the 40-year-old Warner Bros.  Television Workshop, a longstanding pioneer in fostering new and diverse talent.<\/p>\n<figure class=\"caas-figure\">\n<div class=\"caas-figure-with-pb\" style=\"max-height: 642px\">\n<div>\n<div class=\"caas-img-container caas-img-loader\" style=\"padding-bottom:67%;\"><noscript><img alt=\"Warner Bros.  Discovery CEO David Zaslav arrives for the Time 100 Gala celebrating Time magazine's 100 most influential people people in the world in New York, US, June 8, 2022. REUTERS\/Caitlin Ochs\" src=\"https:\/\/s.yimg.com\/ny\/api\/res\/1.2\/jA8d_5qXC6oKzMSO_OuCHQ--\/YXBwaWQ9aGlnaGxhbmRlcjt3PTk2MDtoPTY0Mg--\/https:\/\/s.yimg.com\/os\/creatr-uploaded-images\/2022-08\/d699b510-14e4-11ed-b4ec-218755d13e92\" class=\"caas-img\"\/><\/noscript><\/div>\n<\/div>\n<\/div>\n<p><figcaption class=\"caption-collapse\">Warner Bros.  Discovery CEO David Zaslav arrives for the Time 100 Gala celebrating Time magazine&#8217;s 100 most influential people people in the world in New York, US, June 8, 2022. REUTERS\/Caitlin Ochs<\/figcaption><\/p>\n<\/figure>\n<p>The move adds to the company&#8217;s broader restructuring efforts as it looks to slash $3 billion worth of costs over the next two years and prepares to combine HBO Max with Discovery+.<\/p>\n<p>Warner Bros.  Discovery declined to further comment on the layoffs.  In a company memo, obtained by Deadline, chairman Channing Dungey stated:<\/p>\n<div class=\"caas-pull-quote-wrapper caas-img caas-lazy\" data-src=\"\">\n<blockquote class=\"caas-blockquote\">\n<p>&#8220;These are challenging times in the world at large, and a tumultuous time in our industry. For this kind of change to hit so close to home is incredibly difficult. But my hope is that these changes, made with an eye to a more focused business strategy, will strengthen and stabilize our company, maintain our great creative output, and better position us for continued future success.&#8221;<\/p>\n<\/blockquote>\n<\/div>\n<p>The media giant reported a $3.42 billion loss in the second quarter, partly due to obstacles related to its recent merger.<\/p>\n<p>Warner Bros.  Discovery now expects 2022 adjusted EBITDA to come in between $9 billion and $9.5 billion, a decline from previous forecasts of $10 billion.  Management also cut its full-year 2023 EBITDA guidance from $14 billion to $12 billion<\/p>\n<p>&#8220;[David Zaslav] has got to magically saved $3 billion sometime in the next year,&#8221; Peter Kafka, host of Recode Media, previously told Yahoo Finance Live.<\/p>\n<p>&#8220;People will get laid off throughout the fall&#8230; it&#8217;s a lot of bodies that they have to process, and they have to find ways to save money,&#8221; Kafka added, pointing to the company&#8217;s falling stock price, which is currently hovering at 52-week lows.<\/p>\n<p><button class=\"link caas-button collapse-button\" aria-label=\"\" title=\"\" data-ylk=\"elm:readmore;slk:Story continues\">Story continues<\/button><\/p>\n<p>&#8220;Wall Street is saying that the combined assets of your company and what was the premier media company in the world are now worth a lot less,&#8221; he said.  &#8220;What can you do to make it more valuable?&#8221;<\/p>\n<p><strong><em>Alexandra is a Senior Entertainment and Food Reporter at Yahoo Finance.  Follow her on Twitter <\/em><\/strong><a rel=\"nofollow noopener\" href=\"https:\/\/twitter.com\/alliecanal8193\" target=\"_blank\" data-ylk=\"slk:@alliecanal8193\" class=\"link \"><strong><em>@alliecanal8193<\/em><\/strong><\/a><strong><em>  and email her at alexandra.canal@yahoofinance.com<\/em><\/strong><\/p>\n<p><strong>Click here for the latest trending stock tickers of the Yahoo Finance platform<\/strong><\/p>\n<p><strong>Click here for the latest stock market news and in-depth analysis, including events that move stocks<\/strong><\/p>\n<p><strong>Read the latest financial and business news from Yahoo Finance<\/strong><\/p>\n<p><em>Download the Yahoo Finance app for <\/em><em>apple<\/em><em>  or <\/em><em>Android<\/em><\/p>\n<p><em>Follow Yahoo Finance on <\/em><a rel=\"nofollow noopener\" href=\"https:\/\/twitter.com\/YahooFinance\" target=\"_blank\" data-ylk=\"slk:Twitter\" class=\"link \"><em>twitter<\/em><\/a><em>, <\/em><em>Facebook<\/em><em>, <\/em><em>Instagram<\/em><em>, <\/em><em>flipboard<\/em><em>, <\/em><em>LinkedIn<\/em><em>and<\/em><em>  YouTube<\/em><\/p>\n<\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><script async defer src=\"https:\/\/platform.instagram.com\/en_US\/embeds.js\"><\/script><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Warner Bros. Discovery (WBD) has laid off more employees after eliminating 14% of its HBO Max workforce earlier this summer. On Tuesday, the company&#8217;s television studio cut 26% of its headcount (125 positions) across its scripted, unscripted, and animation divisions \u2014 laying off 82 staffers and opting not to fill an additional 43 vacant positions. &hellip;<\/p>\n<p class=\"read-more\"> <a class=\"\" href=\"https:\/\/harchi90.com\/warner-bros-discovery-slashes-more-staff-cuts-departments\/\"> <span class=\"screen-reader-text\">Warner Bros.  Discovery slashes more staff, cuts departments<\/span> Read More &raquo;<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"default","ast-global-header-display":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","spay_email":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[5],"tags":[],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack-related-posts":[{"id":95192,"url":"https:\/\/harchi90.com\/warner-bros-discovery-pipeline-programs-for-writers-and-directors-reinstated-the-hollywood-reporter\/","url_meta":{"origin":94882,"position":0},"title":"Warner Bros.  Discovery Pipeline Programs for Writers and Directors Reinstated \u2013 The Hollywood Reporter","date":"October 12, 2022","format":false,"excerpt":"Warner Bros. Discovery has backed off of a plan to shutter workshops for ascendant writers and directors after industry backlash. The company said in a statement Wednesday that it was transferring the Directors' Workshop and Writers' Workshop programs from its previous home at Warner Bros. Television to the corporate Diversity,\u2026","rel":"","context":"In &quot;Entertainment&quot;","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":46746,"url":"https:\/\/harchi90.com\/warner-bros-discovery-to-lay-off-70-staffers-in-hbo-restructure\/","url_meta":{"origin":94882,"position":1},"title":"Warner Bros.  Discovery to lay off 70 staffers in HBO restructure","date":"August 16, 2022","format":false,"excerpt":"HBO Maxphoto: HBOAs it continues its attempts to recoup the $3.4 billion in losses from last quarter, Warner Bros. 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Among those expected to be\u2026","rel":"","context":"In &quot;Entertainment&quot;","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":93760,"url":"https:\/\/harchi90.com\/more-layoffs-coming-tuesday-at-warner-bros-discovery-the-hollywood-reporter-2\/","url_meta":{"origin":94882,"position":4},"title":"More Layoffs Coming Tuesday at Warner Bros.  Discovery \u2013 The Hollywood Reporter","date":"October 11, 2022","format":false,"excerpt":"Another round of layoffs is coming Tuesday at Warner Bros. discovery. Sources tell The Hollywood Reporter that, as part of Warner Bros. Discovery CEO David Zaslav's effort to find $3 billion in post-merger cost savings, that layoffs will impact several departments in the merged companies. Among those expected to be\u2026","rel":"","context":"In &quot;Entertainment&quot;","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":34735,"url":"https:\/\/harchi90.com\/the-future-of-hbo-max-grows-more-uncertain-amid-merger-rumors\/","url_meta":{"origin":94882,"position":5},"title":"The future of HBO Max grows more uncertain amid merger rumors","date":"August 4, 2022","format":false,"excerpt":"HBO Max's logoImage: HBO MaxAdding a dark irony to the phrase \u201ctoo big to fail,\u201d multiple insiders say Warner Bros. Discovery plans to consolidate the companies' two biggest streamers, HBO Max and Discover+, a move that many fears will result in significant layoffs and content losses at HBO Max. 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