A significant number of employees at Warner Bros. Discovery are facing layoffs in a new round of cost-cutting measures. Sources have revealed that nearly 1,000 employees will be affected, with the finance, business affairs, production, and Max streaming service departments bearing the brunt of the cuts. Particularly hard-hit is the finance division, with less than 10 Max staffers impacted.

Despite the scale of the layoffs, not all employees have been notified of the decisions at this time. Warner Bros. Discovery has not provided an official comment on the matter as of yet.

These recent job cuts follow a series of downsizing efforts at Warner Bros. Discovery since the merger between Discovery and WarnerMedia in April 2022. The company has undergone multiple rounds of layoffs throughout 2023, coinciding with challenges in the streaming industry and labor strikes that affected HBO and Max last year.

Warner Bros. Discovery’s streaming platform, Max, was launched in May 2023, and the company has been adjusting its content strategy. Several upcoming Max original series, such as DC’s ‘The Penguin’ and the ‘Harry Potter’ TV adaptation, are being rebranded as HBO shows with premieres on the cable channel.

Investors are eagerly awaiting Warner Bros. Discovery’s second-quarter earnings report on August 7, which is expected to provide insights into the company’s subscriber numbers across its streaming services.

The news of the layoffs was first reported by Deadline, shedding light on the ongoing challenges faced by Warner Bros. Discovery in the evolving entertainment landscape.