Warner Bros. has been going through some major *changes* this summer, and it feels that there is no end in sight. According to the The A.V. Club, Warner Bros. Discovery (the new name of the company after Discovery merged with them) is still rummaging around their finances to save around $3 billion.
They’ve canceled movies, television shows, and removed old episodes of Sesame Street, amongst other things. And they’re not done. After snagging 38 Emmys earlier this week, the most of any network in contention, Warner Bros. proceeded to fire around 100 employees.
What exactly is going on over there?! And sorry, not sorry, Warner Bros., I’m still not over you canceling Batgirl on us. Not cool.
Warner Bros. continues to cut costs in light of recent changes
Apparently, these layoffs are part of a plan to cut costs by 30% across the company’s ad sales division. To be fair, some of the layoffs were part of exits that had already been reported. And some employees made a deal with Warner Bros. and got severance packages or just decided to retire.
What I find interesting (and incredibly annoying) is that CEO David Zaslav and the other executives aren’t just taking pay cuts. They’re basically cutting out everything and everyone else but not making any sacrifices themselves. They realize they’re making the most money in this company, right?
Time will tell what else is in store at Warner Bros. Discovery, but all their decisions so far have been questionable. What exactly is the game plan here? Keep cutting costs until there is nothing left except the CEO and the execs? What exactly will they stand to gain then?
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