Warner Bros. Discovery Inc. plans to let go about 100 employees in advertising sales starting Tuesday, the latest round of cuts as the company tries to pay down debt from its $43 billion merger.
(Bloomberg) — Warner Bros. Discovery Inc. plans to let go about 100 employees in advertising sales starting Tuesday, the latest round of cuts as the company tries to pay down debt from its $43 billion merger.
Warner Bros. plans to reduce the size of its ad sales team by about 30% through layoffs, buyouts and attrition, according to a person familiar with the plans who asked not to be identified. News of the cuts was reported Monday by Axios.
The company, formed in April through the combination of Discovery and AT&T Inc.’s WarnerMedia division, is seeking at least $3 billion in annual savings. Last month, the company fired about 70 employees who worked on programming for HBO and HBO Max.
More stories like this are available on bloomberg.com
©2022 Bloomberg L.P.
