The next round of layoffs at Warner Bros. Discovery is expected to occur soon.

Warner Bros. Discovery is reportedly preparing for another wave of layoffs, according to Deadline. This time around, the layoffs are expected to primarily hit Warner Bros. Television Group, which serves as the production arm of The CW and DC Comics and the distribution arm of Cartoon Network, Adult Swim and HBO. Moreover, there is speculation the firings may begin some time in the next week.

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An insider explained that layoffs in October were always expected. "Everyone was given financial targets going into Q4... Those targets include head counts, and October was always the expectation for the ax to fall." In addition, it is currently thought the fall season will see the end of the cuts, as that has always been the goal-- to conclude before the holiday season begins.

While it's uncertain how many this will impact, it is expected to be comparable to the layoffs in August, which hit 70 employees and saw HBO and HBO Max lose 14 percent of its staff, including high-level executives such as Johnathan Young, HBO Max EMEA (Europe, Middle East and Africa) vice president of original programming; Christian Wikander, vice president and commissioning editor of original programming for the Nordic region; and Annelies Sitvast, the head of the studios’ unscripted original programming. Reports suggest the downsizing can be attributed to Warner Bros. Discovery CEO David Zaslav's efforts to find $3 billion in savings after the merger, which left the company with a net loss of $3.4 billion.

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The Cost of Warner Bros. Discovery's Changes

On top of letting employees and executives go, Warner Bros. Discovery has also scrapped several major projects, such as Batgirl, and purging the HBO Max streaming service of much of its content. A report suggested the purge will save Warner Bros. Discovery "tens of millions of dollars" by flushing some of its worst-performing content.

The layoffs and content purge have had a considerable impact on Warner Bros. Discovery's market value. The company's stock price plummeted from approximately $17.00 per share at the beginning of August to $11.52 at the time of writing. However, it should be noted this is part of a larger decline. In total, Warner Bros. Discovery's stock value has dropped nearly 50% since the beginning of the year.

Source: Deadline