News: Warner Bros Discovery layoffs extend to HBO and Max streaming marketing team

Strategic HR

Warner Bros Discovery layoffs extend to HBO and Max streaming marketing team

WBD had initiated a round of job cuts that impacted approximately 70 employees, constituting around 14 per cent of its workforce, within the HBO and HBO Max streaming service.
Warner Bros Discovery layoffs extend to HBO and Max streaming marketing team

The latest series of job cuts at Warner Bros Discovery (WBD) has apparently affected the streaming marketing team at HBO and Max. 

According to a source familiar with the matter, who spoke to Variety on Wednesday, the layoffs have reached a count in the double digits and have not influenced the company's content division.

The layoffs mark the latest effort to reduce staff within the WBD brands, which have been implementing workforce reductions since the merger of the company in April of the previous year. Furthermore, WBD introduced the integrated streaming service, HBO Max-Discovery+, on May 23 of this year.

During the initial quarter, WBD provided advance notice to investors about an expected decline in streaming subscriber numbers for the subsequent quarter. This projection stemmed from the fact that around 4 million customers had subscribed to both Discovery+ and HBO Max, reported IANS. 

Anticipated cancellations of Discovery+ subscriptions were projected as some subscribers were likely to opt for the rebranded Max service. As of August 3, WBD disclosed a loss of 1.8 million streaming subscribers for the period spanning April 1 to June 30. 

This quarter included the introduction of the combined streamer Max. Consequently, the aggregate count of streaming subscribers across HBO, Max, and Discovery+ settled at 95.8 million.

"In that earnings report, the company also said it is now increasing its post-WarnerMedia-Discovery merger synergy target to more than $5 billion over three years, whichsignalledmore layoffs were likely about to hit following cuts to the cable group back in June," the report said.

During June, reports emerged stating that WBD had implemented workforce reductions within its domestic cable group, impacting approximately 100 personnel within legacy Discovery and Turner channels. 

In August of the previous year, WBD had undertaken layoffs that affected around 70 employees, equivalent to 14 per cent of its workforce, at the HBO and HBO Max streaming service.

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Topics: Strategic HR, #Layoffs, #HRTech, #HRCommunity

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