CARNAGE CONTINUES

Warner Bros. Discovery to Lay Off Hundreds Starting This Week

The newly merged company is trying to rein in its $55 billion debt.

Hundreds of business-side staffers at Warner Bros. Discovery will be laid off starting Tuesday, as the entertainment conglomerate tries to pare down its expenses and pay off its $55 billion debt. Mediate estimated that the number would be close to 1,000 people, but a source close to the situation told The Daily Beast that the layoffs will affect “a few hundred” people across all departments. About 100 will come from the company’s ad sales department. In all, the 1,200-person team will be slashed by about 30 percent in the coming months, with some of the workers allegedly leaving on their own. This is the latest round of cuts after the company laid off about 70 people on the content and programming teams last month. Some of those staffers told The Daily Beast that Discovery bosses are trying to steer HBO Max toward cheaper, Middle America-friendly content. At Monday’s Emmy Awards, the streamer topped the list of wins with a whopping 38 statues.