HBO Max Streaming Service layoffs: Warner Bros Discovery (WBD) has laid off nearly 70 workers, or 14 per cent of its workforce, at HBO and HBO Max streaming service. The jobs are being cut primarily from the division’s reality, casting and acquisitions departments. “Unscripted and live-action family programming for HBO Max, the streaming service, were most affected,” a report said in The New York Times said on Monday.
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The job cuts, which amount to 14% of staff at the streamer, are part of a larger effort at Warner Bros. Discovery to eliminate overlap as HBO Max and Discovery+ come together as one streaming service in April. The deal saw AT&T receive $43 billion in a combination of cash debt securities and debt retention.
Additionally, shareholders of AT&T received 0.241917 shares of WBD for each share of AT&T common stock they held at the close. As a result, AT&T shareholders received 1.7 billion shares of WBD, representing 71 per cent of WBD shares on a fully diluted basis.
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Many of the employees who lost their jobs were members of teams that had been led by former HBO Max chief content officer Kevin Reilly that no longer fit within the new structure of Warner Bros. Discovery.
Chief Executive Officer David Zaslav is combining HBO Max and Discovery+ to form a new streaming service that will launch in the U.S. in mid-2023. Discovery will provide the reality programming for that product, making HBO Max’s reality division unnecessary, according to reports.
HBO also frequently works directly with casting directors, rather than using internal people, and has phased out many of its so-called pay-one deals, in which it acquires licensed films — work done by its acquisitions department.
No shows will be canceled as part of the job cuts, the people said. The job cuts aren’t targeted at HBO Max’s scripted series or films.
The combination creates a premier standalone global media and entertainment company, Warner Bros. Discovery or “WBD”.
Warner Bros. Discovery earlier shut down the CNN+ streaming service within a month after the launch, costing the company nearly $300 million.
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The new entity will create and distribute the world’s most differentiated and complete portfolio of content, brands and franchises across television, film and streaming.
