WarnerMedia is expected to fire at least 800 employees at Warner Bros. and HBO as part of CEO Jason Kilar’s restructuring plan.
Variety, citing unidentified sources, reported that Warner Bros. is expected to lay off 650 people from Monday, while HBO is expected to lose up to 175 employees.
Hill has reached out to WarnerMedia for comment.
Kilar, 49, said in a memo with employees last week that the restructuring was very important, adding that the changes are “neither timid nor dangerous.”
“These changes, both timid and risk-free, are possible in part because we are missionaries who believe we can and will change,” he wrote in the memo. gender through story. “
“I believe it is important that we change the organization, simplify it and act boldly and urgently,”; Kilar added.
“I realize that this takes a lot of work. And neither of us should expect the above changes to be easy. That said, we are together successfully navigating a pandemic. and I know that, despite challenging the above changes, we will also successfully navigate them.Each of you take some time to learn the above, I hope that you becoming more and more energetic by being together, we boldly look to the future and the historic opportunity is right here in front of us. It’s an honor to be on this team with each of you, “he conclude.
Almost all media companies have experienced layoffs, cuts or restructurings due to declining ad revenue since the coronavirus shut down most of the country in March.
WarnerMedia’s news comes a month after AT&T CEO Randall Stephenson retired.
AT&T bought Time Warner in 2018 for $ 85 billion, making it one of the largest media companies in the world.