Warner Bros Discovery Begins Buyouts As First Step Toward Trimming Ad Sales Force By Up To 30%
deadline.comWarner Bros Discovery, two months after closing its $43 billion merger, has taken the first step toward reducing its global workforce, initiating voluntary buyouts in its U.S.
advertising sales division.Over time, the cuts will see up to 30% fewer employees in sales, an expected move reflecting overlap related to the business combination, a person familiar with the employee reductions told Deadline.
The Information had the first report of the job cuts.The timeline for the cuts is not completely clear, according to the source, but plans call for voluntary buyouts to be followed by non-voluntary measures including layoffs.Sales is one area considered to have duplicative positions in its org chart given the expanded portfolio.
Others include marketing and distribution as well as administrative departments like business affairs and accounting.The newly combined company has promised Wall Street at least $3 billion in cost savings from the merger, which saw Discovery join with WarnerMedia in a spinoff from former parent AT&T.
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