(MENAFN) Warner Bros. Discovery Inc. is sacking nearly 70 employees who work at HBO and HBO Max, the most recent round of layoffs following its parent firm cooperated with Discovery Inc.
The layoffs impact 14 percent of the employees below HBO head Content Officer Casey Bloys as well as drop massively on a group that makes live-action agendas for kids and families, an area the firm is now deemphasizing.
Bloys is also combining the HBO and HBO Max comedy development teams into one group, the firm stated on Monday.
Warner Bros. Discovery, established in April vie the merge of Discovery and AT&T Inc.’s WarnerMedia division, has been reducing budgets to cut the debt required to back the agreement.
The company will squeeze more than USD3 billion in yearly investments according to Head of the company David Zaslav.
Zaslav has shocked the media business with actions including closing down the newly established CNN+ streaming service as well as dismissing a nearly done film, "Batgirl,” which was to stream on the company’s HBO Max streaming service.
Zaslav has stated that his main concern is going to be on fewer, higher-quality movies and TV shows.
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