Warner media will be announcing more lay off in the company amid the pandemic. The Wall street Journal reports that the company will be cutting costs by 20%.
Warner Media also stated in a statement with Variety , “Like the rest of the entertainment industry, we have not been immune to the significant impact of the pandemic. That includes an acceleration in shifting consumer behavior, especially in the way content is being viewed. We shared with our employees recently that the organization will be restructured to respond to those changes and prioritize growth opportunities, with an emphasis on direct-to-consumer. We are in the midst of that process and it will involve increased investments in priority areas and, unfortunately, reductions in others.”
Though it is not yet clear which divisions will be hit in these layoffs. The move has come under the leadership of the new Warner Media CEO Jason Kiler.
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