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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.

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