Warner Bros Discovery cuts jobs: NYT

Creative Success and Business Success are two different things. For proof, look no further than Warner Bros. Discovery this week. A basic Google search would?bring up the following two headlines: "Warner Bros. Discovery lead all Emmy Winners." "Warner Bros. Discovery to lay off 100's more." Same week. Now obviously the layoffs were long planned as a result?of the merger, but.... do we think it's possible that any of the people walking out of the door as a result of the second headline may have contributed to the results of the first headline? You can bet on it. So keep grinding everyone. Your best work may come on your most unsuccessful?project. Your most successful projects may still be rewarded with layoffs. But in order to truly love the creative side of our business you have to be able to separate?it from the fiscal side of our business.? Create because you love it. It will be rewarded. (Just maybe not with a steady job)

One, not surprised. Two, this is not enough to substantially dent its $50 billion debt. "Roughly 100 employees at Warner Bros. Discovery were laid off on Tuesday, mostly from the ad sales division in the United States, two people with knowledge of the cuts said. After Discovery merged with WarnerMedia in April, executives pledged to find $3 billion in savings, and telegraphed that job cuts, particularly in duplicative areas like ad sales, would be coming. The company has a debt load of more than $50 billion."

Hundreds of people are expected to be laid off on the business side of?Warner Bros. Discovery, via a round of layoffs that will begin Tuesday, sources tell Axios’ Sara Fischer Executives have warned for months that the merger between WarnerMedia and Discovery would yield roughly $3 billion in synergies. ? Roughly 30% of the combined ad sales teams across the two companies are expected to be cut over the next few weeks.

Warner Bros. Discovery enacted 100 layoffs as part of a planned downsizing of the company’s ad sales departments that had been in the works since Discovery closed its merger with WarnerMedia in April.

We’ve now seen Batgirl, The Not-Too-Late-Show with Elmo, Infinity Train, and the upcoming Gumball movie axed by Warner Bros. Discovery. It seems every day more shows are stripped from HBO Max to cut costs and lower debt.? Fans voiced their opinions on Twitter, supporting affected creators, those who have lost their jobs, and the storytelling they’ve enjoyed over the years. If we’ve learned anything in this past week from Warner Bros. Discovery, it’s that our favorite shows are not permanently available to us anymore. Will we see a return to physical media? #entertainment #business #hbomax #animation