There’s an article on Marketwatch that AT&T is scheduled to lay off thousands as part of a reStructuring
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Going thru bills....”Does anyone watch HBOMax???…crickets . CANCELLED
We bought another company that was doing fine on its own, and now are trying our best to destroy it.
- Run off prior management who made HBO great and hire new people that we then fire to get another person in charge.
- Deploy new streaming service that you are betting the entire 80 billion dollar gamble on, and not release it on two devices that comprise 75% of the market (Roku and Amazon) because of pipe dream about some advertising unit that you are at the same time trying to sell. Can't make this sh** up.
- Fire first batch of 500, followed by another 20%. If this is true, that is 4000 people fired from Warner Brothers.
Did I miss anything gang?
Anyone think they’re cutting back HBO MAX staff already? I was really surprised they dug their heels in on that product after that massive failure of a launch.
https://www.marketwatch.com/story/atts-warnermedia-to-layoff-thousands-of-employees-at-warner-bros-as-part-of-restructuring-2020-10-08?mod=home-page
AT&T Inc.'s WarnerMedia subsidiary is preparing a restructuring aimed at cutting costs by as much as 20%, resulting thousands of employees losing their jobs, according to a report in The Wall Street Journal. Citing people familiar with the matter, the report said the restructuring, which is expected to begin in the coming weeks, comes as earnings from movie tickets, cable subscriptions and TV ads have taken a hit from the COVID-19 pandemic. The layoffs will affect AT&T's Warner Bros. studios, as well as TV channels such as HBO, TBS and TNT, the report said. The layoffs are in addition to the more than 500 jobs WarnerMedia eliminated at Warner Bros.