AT&T plans thousands of layoffs at HBO, Warner Bros., rest of WarnerMedia
AT&T’s WarnerMedia cuts jobs, blames pandemic’s impact on entertainment industry.
arstechnica.com
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arstechnica.com
This isn't good at all. You have to wonder when there will be mass layoffs at other streaming operations like CBS and Disney etc/
They bought so much stuff they now have so much debt they need to cut costs
Every single time AT&T is in the news, its because they're fucking laying people off. What the fuck is going on?
So WB Interactive...Do they need to be bought by Sony or Amazon to be saved? Seems like they are going to get hit hard.
I'm so fucking tired of how corporations operate. Record profits quarter after quarter, and it all goes to CEOs and shareholders, while the workers get shafted. Then they have one or two "bad" quarters, and guess who suffers? All while they beg for a bailout. Maybe they should take the advice they like to tell households and actually stash some of those profits away for when something like this happens. But no, they'll keep privatizing the profits and socializing the losses, all while the top brass keep living in their golden towers and everyone else suffers.
They're a horrible company. Every company they absorb they destroy (DirecTV, soon to be Warner Bros). They lie to consumers ("5G") and are approximately $170 billion in debt.
AT&T actually kinda screwed up CN before they even touched WB which is impressive
We sure did, back in August 2020 AT&T conducted layoffs within WarnerMedia:
WarnerMedia Layoffs Expected to Hit Warner Bros., HBO
WarnerMedia is expected to let go at least 800 staffers at its Warner Bros. and HBO operations as part of a broad restructuring.
variety.com
Most of the media is dying already. Go back 10 years and you could make a decent salary in traditional media. Now it's all clickbait and shitty yellow journalism. Everything is getting swallowed up by corporate giants and when they do, they become soulless, stripped of what made them unique/fun in the first place. Then a couple months later they're closed because the corporate suits thought they could make a quick buck, ransacked everything and quit.
I know it's not a media company but we're seeing it with Hasbro in relation with MTG. Recently, Hasbro decided that MTG needed to double its profits. What that translates to in the last 2 years: insane product output you can't keep up with, degenerate designs meant to sell more packs, going back on promises made to the players with stupid crossovers IPs like The Walking Dead in black border, poor cardboard quality, poor competitive scene, the list goes on. Corporate is out of whack almost everywhere.
I know it's not a media company but we're seeing it with Hasbro in relation with MTG. Recently, Hasbro decided that MTG needed to double its profits. What that translates to in the last 2 years: insane product output you can't keep up with, degenerate designs meant to sell more packs, going back on promises made to the players with stupid crossovers IPs like The Walking Dead in black border, poor cardboard quality, poor competitive scene, the list goes on. Corporate is out of whack almost everywhere.
Probably could save a couple of thousand jobs if they cut down CEO wages and everyone else who usually are completely fucking useless cunts yet still get paid like 400x the average pay.
They're going to ruin HBO. Writing was on the wall after all those executives jumped ship.
Honestly we need to start putting salary caps on executives who do nothing but sit in meetings and golf all day. Every "chief X officer" in the damn country.
They seemingly abandoned the platform as soon as they acquired it. It sounds like the AT&T CEO is actively auctioning the DTV business, so I believe there is still some optimism that the brand can be saved with someone else at the helm. Obviously "saved" is relative. Not necessarily massive growth, but a dramatic slowdown of the attrition there. I'm hopeful, the skeleton of the company is still very good, with many very smart and dedicated folks still there!