logo
  

AT&T's WarnerMedia Plans To Cut Thousands Of Jobs : Report

AT&T Inc.'s (T) WarnerMedia seeks to cut costs by up to 20 percent as coronavirus pandemic affected its film and TV business. As part of its restructuring, it plans to cut thousands of jobs across Warner Bros. studios and TV channels like HBO, TBS and TNT, the Wall Street Journal reported citing people familiar with the matter.

The restructuring is expected to begin in the coming weeks, the Journal reported.

Warner Bros. reportedly had already cut 500 jobs in August.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
German banking major Deutsche Bank AG (DB) reported Wednesday a profit in its second quarter, compared to prior year's loss, with sharp drop in provision for credit losses. Net revenues were down slightly. Looking ahead for fiscal 2021, Deutsche Bank updated guidance, and now expects net revenues to be ahead of guidance provided at the Investor Deep Dive on December 9, 2020. Facebook Technologies LLC is recalling about 4 million removable foam facial interfaces for Oculus Quest 2 Virtual Reality or VR headsets citing skin irritation risk. The company said it has introduced a new silicone cover for all Quest 2 customers globally, and has paused global sales of Quest 2 to include the new silicone covers in all Quest 2 packages. General Electric Co. reported Tuesday narrower net loss in its second quarter with strong growth in revenues. The company also generated strong order growth. Looking ahead, the company reiterated its outlook for adjusted earnings per share, while increased its 2021 outlook for Industrial free cash flow range. In pre-market activity on NYSE, GE shares were gaining around 4 percent.
Follow RTT