After months of major senior executives departing WarnerMedia, now the more difficult work begins -- expected significant layoffs, largely due to consolidation of entertainment operations as well as as focus around streaming businesses.
According to reports, between 5% and 7% of WarnerMedia staffers -- amounting to 1,250 to 1,750 employees -- could be let go.
Jason Kilar, chief executive officer of WarnerMedia, sent a memo to staffers about a Wednesday morning company-wide meeting that revealed more details.
Previously, Kilar sketched out a new organizational structure, which he said in the current memo was about “simplifying how we organize our entertainment studios, elevating HBO Max, and consolidating our commercial activities into one organization.”
The memo added: “We have arrived at a number of difficult decisions that are resulting in a smaller WarnerMedia team. This is a function of removing layers and the impact of consolidating previously separate organizations.”
In August, top executives Bob Greenblatt, chairman of WarnerMedia Entertainment and direct-to-consumer since March 2019. and Kevin Reilly, chief creative officer for Turner and WarnerMedia direct-to-consumer -- who both had been planned to oversee WarnerMedia HBO Max streaming service -- were let go.
In October, 22-year veteran Peter Roth, chairman of Warner Bros. Television Group, announced his departure. He will leave the company in early 2021.