HBO Max feels brunt of layoffs at parent company


Streaming service HBO Max is feeling the brunt of a 14% workforce reduction at HBO, part of an ongoing companywide austerity program at parent company Warner Bros. Discovery Inc. WBD, -4.09%. According to a Wall Street Journal report, citing people familiar with the matter, HBO Max units in charge of reality shows and documentaries were hit, a casting unit will be dissolved, and the team in charge of buying old content for the service will be greatly reduced. Warner Bros. Discovery Chief Executive David Zaslav and his management team have overseen an overhaul of the entertainment conglomerate since they took control of the media giant last spring, after AT&T Inc. T, +0.66% spun off its WarnerMedia unit and Discovery merged with it.

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