AT&T Inc.’s WarnerMedia is preparing a restructuring that seeks to reduce costs by as much as 20% as the coronavirus pandemic drains income from movie tickets, cable subscriptions and TV ads, according to people familiar with the matter. The overhaul, which is expected to begin in the coming weeks, would result in thousands of layoffs across Warner Bros. studios and TV channels like HBO, TBS and TNT, the people said. The CTO (Richard Tom) himself said that he expects major cuts across nearly all tech groups. This is in additional to the hundreds of contractors they rolled off over the last few months. #layoff #media #WarnerMedia #hbo #advertising #Warner bros #att #At&t
Yikes