Warner Bros Discovery will lay off roughly 10% of its motion picture group employees as part of a restructuring before the company splits in two, a source with knowledge of the matter said on Wednesday. https://t.co/w30r0DwzfS
Warner Bros. recorta el 10% de su plantilla en el área cinematográfica https://t.co/9NzZDmoNtO
WARNER BROS $WBD TO CUT 10% OF FILM DIVISION STAFF IN GLOBAL RESTRUCTURING
Warner Bros. Discovery will cut about 10 % of the workforce at its Motion Picture Group as part of a restructuring designed to shift the division from a U.S.–centric operation to a fully global model, according to an internal memo seen by Reuters and industry publications. The layoffs, which affect marketing, distribution, production and theatre-ventures teams, begin this week. Co-chairs Pamela Abdy and Michael De Luca told employees the review of operations started early this year and concluded that a new structure was needed to “transform our business” and better coordinate film releases worldwide. The Motion Picture Group employs fewer than 1,000 people, suggesting that under 100 positions will be eliminated, though the company did not provide an exact figure. The cost-cutting move comes as parent company Warner Bros. Discovery prepares to separate into two publicly traded entities. One unit, to retain the Warner Bros. name, will house the film studio and HBO Max streaming service, while a second company, Discovery Global, will include CNN, TNT and Discovery+. Media companies are re-aligning their structures as they seek profitability in the streaming era, and Warner Bros. Discovery is also contending with recent box-office volatility, following a string of flops in 2024 and several hits this year.
