Warner Bros. Discovery to Lay Off Nearly 1,000 Employees in Cost-Cutting Measures

Warner Bros. Discovery is set to lay off nearly 1,000 employees, with the finance, business affairs, production, and Max streaming service departments most affected. The company has faced multiple rounds of layoffs since the Discovery-WarnerMedia merger, with challenges in the streaming industry and labor strikes contributing to the downsizing efforts. Investors are looking to the upcoming second-quarter earnings report for insights into the company’s streaming service subscriber numbers.