On Monday, Warner Bros. Discovery a big night at the Emmy Awards. The company’s premium cable network, HBO, had the strongest night of all television outfits, winning awards in the Best Drama (“Succession”) and Limited Series (“The White Lotus”) categories. And “Ted Lasso,” the Apple TV+ series produced by the Warner Bros. television studio, won the Best Comedy Award.
On Tuesday morning, the painful business reality set in.
About 100 employees at Warner Bros. Discovery were fired Monday, mainly from its 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 jobs would be lost, particularly in duplicate areas such as ad sales. The company is in debt of more than $50 billion.
Last month, HBO and HBO Max laid off about 70 staffers, which mainly affected the HBO Max unscripted and live-action family divisions. And earlier this year, Warner Bros. Discovery pulled the plug on CNN+, which also resulted in a spate of budget cuts.
There will be additional layoffs in several divisions of the company over the next two months, the people said.
Warner Bros. Discovery is not alone. Netflix, HBO’s biggest rival at the Emmys, also laid off several hundred employees this year after a loss of subscribers.