Sports Illustrated Layoffs Add to Cuts at Disney, Netflix, and More

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Media cuts have continued into 2023 after a year of layoffs throughout the industry .A pull-back of advertising tied to the declining economic outlook has affected all media.From tech disruptors like Netflix to legacy organizations like Disney, a range of companies are impacted.In the blink of an eye, the media and tech jobs market has…

imageMedia cuts have continued into 2023 after a year of layoffs throughout the industry .A pull-back of advertising tied to the declining economic outlook has affected all media.From tech disruptors like Netflix to legacy organizations like Disney, a range of companies are impacted.In the blink of an eye, the media and tech jobs market has gone from hot to not.HR managers have gone from figuring out ways to lure employees to mass firings amid a general pull-back of ads tied to the declining economic outlook.

“The common wisdom is when the economic outlook turns bad, the very first thing to go is marketing and advertising,” Andy Challenger, SVP at outplacement and executive coaching firm Challenger, Gray & Christmas, told Insider.

In all, 3,774 media jobs were lost in 2022, down 5% from the year before, according to Challenger, Gray & Christmas.This was down from an unprecedented 2020 , though.

In news alone, 1,808 jobs were cut in 2022, up 20% from 2021, according to the firm.While media and entertainment layoffs are dwarfed by the tens of thousands in jobs lost at big tech companies from Amazon to Google, a wide range of workers have been impacted.

Cuts have roiled entertainment giants like Warner Bros.Discovery and Paramount Global that are racing to make their streaming businesses profitable and digital media companies such as BuzzFeed and Vice Media that are trying to bolster their valuations.Also affected were legacy journalism stalwarts like The Washington Post and USA Today owner Gannett , which laid off 400 staff and axed a further 400 positions in early December.

More job losses have come in 2023, including at Spotify, which announced cuts of about 6% , or around 600 people; and The Wall Street Journal parent News Corp., which laid off 5% , or around 1,000.

Hasbro in late January announced it would eliminate about 1,000 positions in 2023, and Disney has announced it’ll cut 7,000 jobs as it seeks $5.5 billion in cost savings.

“The hottest labor market in American history inevitably is going to cool a little bit,” Challenger said.

This list was originally published in December and has been updated.Here are 30 media and entertainment companies that have laid off staff as of February 2023:

AMC: 20% of 1,000+ staff, or around 200 people “The Walking Dead.” Gene Page/AMC AMC Networks, the parent company of the cable network behind “The Walking Dead,” “Mad Men,” and “Breaking Bad,” is laying off 20% of its 1,000 American staffers, or about 200 people, according to a report in the Wall Street Journal .

Its CEO, Christina Spade, the former AMC CFO who was in the top position for just three months, is also exiting, and is entitled to a cash severance payout of at least $10.5 million .

“It was our belief that cord cutting losses would be offset by gains in streaming.This has not been the case,” AMC company chairman James Dolan wrote in a note to network staffers in late November, the Journal reported.AMC Networks subsidiaries also include IFC, Sundance TV and streaming services AMC+, Shudder, and Acorn TV.

Bustle Digital Group Gawker is shutting down again after Bustle Digital Group revived the site in 2021.Gawker Bustle Digital Group — the parent company of Bustle, W, Inverse, Romper, and other media sites and publications — announced at the start of February that it would be cutting 8% of its full-time roles and “suspending” operations at Gawker, the irreverent pop culture site that had been revived by BDG in 2021 after a lawsuit forced it to shutter in 2016 .

“After experiencing a financially strong 2022, we have found ourselves facing a surprisingly difficult Q1 of 2023,” wrote BDG CEO Bryan Goldberg in an email to staff.

“BDG has made the decision to reprioritize some of our investments that better position the Company for the direction we see the industry moving.”

The Writers Guild of America, East told The Hollywood Reporter that about 40 full-time staffers at BDG (including eight Gawker staffers), in addition to part-time workers, were impacted by the layoffs.

Buzzfeed: 12% of staff, or 180 people Jonah Peretti.Lucy Nicholson/Reuters BuzzFeed on December 6 laid off 12% of staff or 180 people, citing challenging economic conditions, opportunities to consolidate following its 2021 acquisition of Complex Networks, and a lag in monetizing the audience’s shift to vertical video.The cuts focused on BuzzFeed and Complex, not HuffPost or BuzzFeed News, which had staff reductions in 2021 and earlier in 2022, respectively.”It’s grim watching this happen to this company people really care about,” one staffer told Insider.

BuzzFeed went public via a SPAC in late 2021 and its life as a public company has been rocky .Its stock price has plunged to below $1 and its first earnings call was marked by cuts to its workforce, a call for voluntary buyouts in its vaunted but money-losing news division, and the exit of three top editors.

Looking ahead, the company said it was working to boost growth by ramping up its vertical video output and focusing on creator-driven content that has advertiser appeal.

The CW “Supernatural” stars Jensen Ackles, left, and Jared Padalecki.Warner Bros.Television Distribution The CW, conceived as a joint venture between CBS Studios and Warner Bros.TV, was sold to Nexstar in October 2022.Shortly afterward, it laid off 30 to 40 staffers in November, according to Variety.

In February, the network home of young-adult series “Charmed,” “Supernatural,” and “Arrow” let go of its executives in charge of scripted originals , Michael Roberts and Gaye Hirsch, as well as others in its current programming department, according to The Hollywood Reporter.

The CW declined to comment on the total number of staffers who have been let go since the acquisition.

Dick Clark Productions: 15% of workforce Dick Clark Productions produces the Golden Globe Awards.Todd Williamson/NBC/NBC/Getty Images Dick Clark Productions laid off around 15% of its workforce in early February, just weeks after the producer of live event TV programming had been acquired by Penske Media Eldridge, a partnership between Penske Media Corporation and Eldridge, whose chairman and CEO is Todd Boehly.

“As we look to evolve dcp’s current business model and invest in the company’s long-term growth, change is essential to ensure an enduring path forward,” a PMC spokesperson told Insider.Dick Clark Productions produces a number of major awards shows, including the Golden Globes, Billboard Music Awards, and American Music Awards.

Eldridge also owns the Hollywood Foreign Press Association, the organization of journalists that gives out the Golden Globes.

Penske Media owns the major Hollywood trade publications, including Variety, Deadline, and The Hollywood Reporter, and has stakes in or fully owns a number of festivals, from SXSW to ATX to Life Is Beautiful.

DirecTV: 10% of 10,000-person workforce DirecTV lost “NFL Sunday Ticket” to YouTube in December.Karen Bleier/AFP/Getty Images Satellite player DirecTV said in a staff memo that it’s laying off 10% of its 10,000-member workforce, CNBC reported .

The consolidation includes hundreds of managerial executives at the El Segundo, California, company.

The company said in a statement that “the entire pay-TV industry is impacted by the secular decline and the increasing rates to secure and distribute programming.” Viewers are dumping expensive long contracts for movies and TV shows in favor of direct-to-consumer relationships with streaming ventures such as Netflix.

The change is partly a result of the loss of “NFL Sunday Ticket,” which is moving to YouTube.DirecTV is backed by AT&T and private equity giant TPG.

Disney: plans to cut 7,000 jobs, or 3% of its workforce Disneyland.Disneyland Resort Disney plans to cut 7,000 jobs , or about 3% of the workforce, as it seeks $5.5 billion in cost savings, CEO Bob Iger said during the company’s 1Q earnings call February 8.He’s also reorganizing the company in three groups, focused on entertainment, sports, and theme parks.

Disney, like other entertainment companies, is struggling with making streaming profitable, and insiders were already bracing for thousands of layoffs .Former CEO Bob Chapek had warned staff in November that the company “would look at every avenue of operations and labor to find savings, and we do anticipate some staff reductions as part of this review.”

Iger still believes that streaming is the future, he said on the earnings call Wednesday.

He said his plan to invest in the company’s streaming future includes focusing more on core brands and franchises, curating general-entertainment content, and balancing global and local content.

Dotdash Meredith: 274 staffers or 7% of workforce Dotdash Meredith is the parent company of People, Entertainment Weekly, and other lifestyle magazines and online properties.People magazine IAC -owned Dotdash Meredith, the parent company of People, InStyle, Entertainment Weekly and other lifestyle magazines and online properties, let go of 274 staffers, or 7%, of its workforce in late January.Roles cut included editors, writers, marketers, and production managers.

“As we have said, we are not immune to the broader challenges of the ad industry and of the economy as a whole, and today’s actions are a direct response to these realities,” wrote CEO Neil Vogel in a memo to staff.He noted that the company, like others “in our space” during the pandemic, has “grown aggressively.” It has also faced challenges combining its online and print businesses in the wake of the $2.7 billion merger in 2022.

“With the difficult market environment and economic uncertainty that lie ahead, we must prioritize our biggest opportunities and make sure we have the proper cost structure in place to pursue them,” he continued.”Today’s actions provide for the most effective and focused use of our resources and put us in a position of strength as we look toward the future.”

Gannett: 600 staffers Gannett announced widespread layoffs in 2022.

Associated PRess Media giant Gannett has spent the last few months making deep cuts to its fleet of newspapers , which includes flagship title USA Today as well as regional papers like The Indianapolis Star.

In August, the company cut 400 people and said it would not fill hundreds of open roles.Then in December, Gannett said it was cutting about 6% of its roughly 3,440-person media unit, or about 200 staffers.That news followed an announcement from Gannett CEO Mike Reed in October mandating unpaid leave as well as voluntary buyouts.

Gannett has been under pressure as it tries to shift its business from print to digital, but the crunch in the ad market has hit the publicly-traded newspaper company hard.Its stock fell more than 60 percent in 2022.

G/O Media: 3% of staff, or 11 people G/O Media.Screenshot Digital media publisher G/O, which comprises 11 brands, laid off 11 people — or about 3% of its staff — in December.G/O formed in 2019 when private equity firm Great Hill Partners acquired the former Gawker Media sites including Gizmodo, Jezebel, and Kotaku.This past summer, G/O also acquired business news site Quartz.

CEO Jim Spanfeller wrote in a memo to staff, reviewed by Insider, that the layoffs were spread across the company’s legacy and newer properties and were meant to eliminate redundancies in roles following the Quartz acquisition.”In no way is this a reflection on these people or their talents and abilities.

It is simply a reflection of the final stages of incorporating a new business with some amount of acceleration due to the economic headwinds every company is currently facing,” he wrote.

In early January, Variety reported the hiring of Merrill Brown as G/O’s editorial director , a role that had been open for a year and a half.

Hasbro: 1,000 full-time positions, or 15% of its global workforce Hasbro is cutting 1,000 roles after a challenging fourth-quarter retail period.

Reuters/Sandy Huffaker The toymaker announced it would be cutting 1,000 full-time roles in 2023, given that its consumer products business “underperformed in the fourth quarter against the backdrop of a challenging holiday consumer environment,” according to a statement from Hasbro CEO Chris Cocks.

The maker of Nerf, Play-Doh, and Peppa Pig toys said that some areas, such as digital gaming and licensing, had shown “strong growth” in the fourth quarter, but 2022 overall had offered “a challenging moment.” Hasbro said it would stick to a strategy it had outlined in October 2022 “focus on fewer, bigger brands; gaming; digital; and our rapidly growing direct to consumer and licensing businesses.”

Hasbro is also planning to sell studio Entertainment One (eOne) after acquiring the “Peppa Pig” and “Transformers” parent less than three years ago, though Hasbro aims to retain IP such as “Peppa Pig.”

The Intercept: 6 staffers in January after 20 cuts in 2022 The Intercept home page on February 8, 2023.The Intercept Nonprofit newsroom The Intercept laid off half a dozen staffers in January, culling the 9-year-old investigative outlet of its video team and several other key positions, like a director of digital operations.It was the second round of layoffs to hit the site in the past year, after 20 were cut in April .

A spokesperson for The Intercept told Insider that the six layoffs were tied to a restructuring of the organization in January that saw it spin off as an independent nonprofit.The Intercept’s union called out the layoffs in a note to management posted on Twitter , saying: “We can’t build something if we’re losing colleagues at a rate like this.”

The union said it now counts 19 members as of January, down from 29 at the start of 2022.The Intercept’s spokesperson said that the company employed 40 people total as of February, and was seeking to fill five additional open roles.

Morning Brew: 14% of staff of 300 Morning Brew founders Alex Lieberman, left, and Austin Rief.Morning Brew Morning Brew, a millennial-focused media company that was acquired by Insider Inc.in 2020 , laid off 14% of its staff of about 300 in November.

Cofounder and CEO Austin Rief wrote in an email to staff that “a lot of fear and uncertainty” is scaring marketers, and that Morning Brew has felt the effects of the ad environment.

Those impacted included Daniel Bentley, a managing editor overseeing two newsletters at Morning Brew, “Sidekick” and “Money Scoop;” reporter Katie Canales, who had joined Morning Brew from Insider; reporter Sherry Qin; executive producer Brian Henry; and senior editor Stassa Edwards.

NBCUniversal: reportedly seeking $1 billion in cuts across TV networks The NBC logo and Comcast branding on 30 Rockefeller Plaza in New York.Thomson Reuters NBCUniversal started laying off ad sales people in January after the company executed a buyout program across divisions offering early retirement to older employees.

The Comcast-owned giant was looking to keep costs under control in 2022, resulting in a cull that had impacted NBC Sports, E! Entertainment as well as NBC Group but was expected to hit much wider in January , according to senior insiders at the company.Bloomberg has reported that Comcast is looking for a billion dollars in cuts across the Philadelphia-based cable to satellite player.

Netflix: 450-plus staffers Netflix.Photo by STR/NurPhoto via Getty Images Once a high-flying rocket ship, Netflix saw its wings clipped in 2022 as the dominant streaming platform clocked subscriber losses and a subsequent hit to its share price.In the spring, the company slashed 450 full-time positions, then cut around 30 animation jobs and 70 animation contract roles.

The moves shook Netflix insiders, who noted a shift to “fear-based” decision-making among executives who were stretched thin.The streamer’s subscriber figures have since rebounded, and the company is hiring in targeted areas such as gaming.

News Corp.The News Corp.building in New York.

Photo by Kevin Hagen/Getty Images Wall Street Journal parent News Corp.announced February 9 it would cut about 5% of its headcount, or over 1,000 people, citing a tough economic environment and rising interest rates.

The news followed word in January of layoffs at News Corp.

unit Dow Jones , publisher of the Journal, Barron’s, MarketWatch, and others.

News Corp.’s Rupert Murdoch and his son Lachlan Murdoch also called off the proposed merger between the media company and Fox Corp.

Outside Media: 12% of staff in November, on top of 15% of staff in May Outside.Outside Media Outside Media, the enthusiast publisher of titles including Backpacker, Ski, and Climbing laid off 12% of its staff in November, mainly in content and journalism roles.Founder and CEO Robin Thurston cited slowing consumer appetite and a softening digital ad market.Thurston also conceded that the company expanded too rapidly during the pandemic, when it went on a shopping spree to capitalize on people’s growing interest in the outdoors, and that some of the titles it bought were “extremely challenged.” Outside previously laid off 15% of staff in May.

Paramount Global and Showtime: Ad sales and programming execs laid off Paramount Global CEO Bob Bakish.

ViacomCBS Paramount Global, under CEO Bob Bakish, has been trying to figure out how to integrate its premium cable offering, Showtime, with streamer Paramount+ and find savings at the same time.

In February, Showtime laid off nearly 120 people, Variety reported , amid a restructuring that impacted about 25% of the cabler’s workforce.As part of the changes, Showtime co-presidents Gary Levine and Jana Winograde departed their posts.Levine will reportedly stay on as an advisor.

Several other high-level Showtime executives, including head of content acquisition Kent Sevener, general counsel head Rob Rosenberg and documentary chief Vinnie Malhotra are also exiting as a result of the restructuring, according to Variety.

Paramount had previously axed fewer than 100 positions in November, largely in advertising sales, according to Deadline .

Protocol: shuttered, 60-plus staffers laid off Politico founder Robert Allbritton.Brad Barket/Getty Images for POLITICO Former Politico owner Robert Allbritton launched tech-focused web publication Protocol in early 2020, with the goal of making it the “ESPN of technology.” But the outlet shuttered just two short years later and laid off a staff of more than 60 people amid a downturn in the industry that it covered, as Amazon, Meta and others also are letting go of thousands of staffers.

“I expected layoffs because of the economy, but the full shutdown was a surprise,” one impacted staffer told Insider in November, shortly after the layoffs.Protocol faced steep competition from the likes of Wired and The Verge, and insiders said there was a sense that business had begun to slow in the second half of 2022.

Allbritton in 2021 sold Politico — and Protocol along with it — to Axel Springer, the parent company of Insider.

Recurrent Ventures: 52 staffers Alex Vargas stepped up as Recurrent Ventures’ CEO in October.

Recurrent Ventures Recurrent Ventures was once a bright spot in the digital media industry, a new kid on the block buying up legacy media brands like Popular Science as well as digital standouts like MEL Magazine.

But in September, the private-equity backed media company announced a round of layoffs , Insider first reported.

Shortly thereafter, Recurrent’s CEO and chief revenue officer both stepped aside.Alex Vargas, who joined the company in April as COO, stepped up as CEO in October.

The round of cuts — 52 people in total — followed Recurrent’s decision in July to shutter MEL , the beloved men’s lifestyle publication that it once hoped would be the backbone of a growing lifestyle division.

The company, which grew aggressively as it charted an acquisition-heavy strategy, cited market forces when it announced the layoffs.As Insider reported, disorganization in the ad sales department and an unclear strategy also led to low morale and a struggling business.Now, however, the company is ready to use its $300 million war chest — backed by private-equity giant Blackstone — to make more media deals in 2023.

Roku: 200 positions Roku.

Walmart After high hopes of expansion in 2022, Roku appeared to pause aspirations and ended the year making cuts.The company said that economic conditions meant that it would cut 200 of its 3,000 employees.CEO Anthony Wood, speaking on the company’s third quarter earnings call, said the 2022 holiday period was an unusual one in that advertisers that typically spent with the company were not spending with anyone.

SmartNews: 120 positions SmartNews.Bani Sapra/Business Insider SmartNews, a venture-backed news aggregation site and app valued at $2 billion as of 2021 , in January announced a 40% reduction of its US and China workforce, or around 120 people, TechCrunch reported .

TechCrunch said the impacted roles included people in engineering, product and data science.The company confirmed the layoffs to TechCrunch.

Founded in 2012, Tokyo-based SmartNews raised $230 million in 2021, bringing its total raised to $400 million.

Sports Illustrated: 17 roles cut amid restructuring Sports Illustrated is laying off 17 staffers and creating 12 new positions as a result of a restructuring.Sports Illustrated Arena Group, the parent company of Sports Illustrated, TheStreet, Men’s Journal, Parade, and other publications, is restructuring.As a result, 17 Sports Illustrated staffers were laid off, while 12 new positions were created to “reflect the new needs of the SI business,” according to an internal memo obtained by Insider.

Sports Illustrated has undergone several ownership changes in recent years, changing hands from Meredith to Authentic Brands Group to Arena.Awful Announcing first reported news of the layoffs after several writes and editors who were impacted tweeteed about the layoffs.

Per the memo: “Going forward, we will have three distinct editorial units focusing on serving different parts of our audience.The magazine and long form editorial group will continue to be led by our Editor-in-Chief, Steve Cannella.

Our digital coverage from SI, with a renewed focus on key sports verticals, will be led by Joy Russo, and our breaking and trending team will be led by Neal Coolong.”

Longtime co-editor-in-chief Ryan Hunt, who had been with Sports Illustrated for 25 years, is retiring in March.As part of the restructuring, the publication is also looking to hire nine new journalists and three editorial managers.

Spotify: laid off 6%, or about 600 people Daniel Ek, cofounder and CEO of Spotify.Greg Sandoval/Business Insider Spotify said Jan.23 it planned to reduce headcount by around 6% , or about 600 employees across the company, citing the challenging economy.

Cofounder and CEO Daniel Ek said the music-streaming service had tried to rein in costs over the past few months but that it wasn’t enough.He also said he tried to “sustain the strong tailwinds from the pandemic” but was “too ambitious in investing ahead of our revenue growth.”

Along with the layoffs, Dawn Ostroff, chief content and advertising business officer, will leave the company.Alex Norström, chief freemium business officer, will take on oversight of content, advertising, and licensing work.

TheSkimm TheSkimm founders Danielle Weisberg and Carly Zakin TheSkimm TheSkimm, the popular newsletter publisher and digital media company, laid off nearly 10% of its workforce — or 17 staffers — in mid-January, according to a source familiar with the matter.

Founded by Carly Zakin and Danielle Weisberg in 2012, New York-based TheSkimm first captured the attention of readers with its newsletter, the Daily Skimm, which caters to millennial women.

The company describes itself as being “dedicated to succinctly giving women the information they need to make confident decisions.”

TheSkimm last engaged in a major round of layoffs in the spring of 2020, just a few months into the start of the pandemic, axing about 20% of its 130-person staff.Zakin and Weisberg told staffers at the time, shortly before the layoffs, that the economic downturn had sent ad proposals plummeting 75%.

Vice Media: plans to cut costs by 15% Vice CEO Nancy Dubuc.Taylor Hill/FilmMagic Vice Media quietly trimmed staff in 2022 as it faced a softening advertising environment and sale speculation, though talks with Greek broadcaster Antenna group have stalled, the Wall Street Journal reported .Vice expected to miss its 2022 revenue target by about $100 million, according to the Journal, which will likely depress the $1.5 billion valuation its seeking from a buyer.

In October, Vice laid off a handful of staffers at its games and tech verticals, Waypoint and Motherboard.

In November , it laid off about a dozen editorial staffers out of a few hundred following an editorial reorg.Next came news of cuts at its food vertical Munchies and music destination Noisey.CEO Nancy Dubuc warned of more reductions, emailing in November that the company would look to reduce staff by 15%, citing ongoing cutbacks by brands and advertisers.

The once high-flying digital darling cofounded in 1994 by Shane Smith was valued at $5.7 billion at its 2017 peak but has struggled under the weight of massive debt payments to private equity giant TPG.CNBC reported in May that Vice hired bankers to explore a sale of all or parts of the company.

Vimeo: 11% of about 1,200 staffers.

Anjali Sud, CEO of Vimeo, speaks during the company’s direct listing in 2021.

AP Photo/Mark Lennihan Vimeo conducted a round of layoffs that will impact 11% of its workforce, CEO Anjali Sud wrote in a January 4 email to staff .

“This was a very hard decision that impacts each of us deeply,” Sud wrote.”It is also the right thing to do to enable Vimeo to be a more focused and successful company, operating with the necessary discipline in an uncertain economic environment.”

Vimeo went public in May 2021 after spinning off from IAC.Its main business is software as a service that helps regular people create and distribute video content; it’s been shifting its focus to serve big corporate clients like Gap, Nike, and Expedia and away from its role as a YouTube alternative.

The layoff follows a 6% trim in the workforce in July 2022.

Vox Media: laid off 7%, or about 130 people Vox Media CEO Jim Bankoff.Jerod Harris/Getty Images for Vox Media Venture-backed digital media company Vox Media on January 20 laid off 7% of staff, or about 130 people, according to reports .

The publisher of New York magazine, The Verge, and other publications said it had already reduced spending and frozen hiring.CEO Jim Bankoff said the layoffs would affect revenue, editorial, operations, and core services.Vox laid off 39 people in 2022, Axios reported .

The New York Times reported on February 6 that Vox is raising $100 million from Penske Media, which owns Rolling Stone, Variety and several other Hollywood trades, and Dick Clark Productions.Penske also owns Los Angeles-based festival LAC3 and has a stake in SXSW.

Washington Post: plans to lay off single-digit percent of workforce The Washington Post building in Washington.

SAUL LOEB/AFP via Getty Images The Washington Post is laying off 20 people out of its 2,500-person workforce and not filling 30 vacancies, Executive Editor Sally Buzbee said in a memo to staff.The paper is also phasing out Launcher, its online gaming vertical, and KidsPost.

The Post said its net headcount would remain unchanged as it continues to hire in other areas.

The January news followed the Post’s announcement in November that it would shutter its standalone print Sunday magazine and eliminate its 10 staff positions.

Buzbee told staffers at the time that the move was part of the paper’s “global and digital transformation” and that the Post “will be shifting some of the most popular content, and adding more, in a revitalized Style section that will launch in the coming months,” the Post reported.

Warner Bros.Discovery: more than 700 positions across divisions Discovery acquired WarnerMedia in April to form Warner Bros.

Discovery.Celal Gunes/Anadolu Agency via Getty Images Perhaps no entertainment company has undergone as much corporate turmoil in 2022 as Warner Bros.Discovery, which is still digesting a megamerger that has combined WarnerMedia’s HBO, HBO Max, CNN, and DC with Discovery’s HGTV, Food Network, and other cable networks.

As CEO David Zaslav looks for at least $3 billion in synergies, the company, which employs some 40,000 people worldwide, is shedding staff from nearly every major division.CNN has cut 400 positions including open job roles, on top of another 239 cuts following the short life of news streaming platform CNN+.At Turner Sports and Bleacher Report, 70 people have lost their jobs, while WBD has axed 100 in ad sales as that division shrinks by 30% globally.

Even at crown jewel HBO, Zas trimmed headcount by 14% , or about 70 people, over the summer, scrapping HBO Max’s original unscripted team and yanking a plethora of titles from the streaming platform..

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