HBO Announces Massive Staff Layoffs
Time Warner's HBO has announced massive staff cuts. According to The Hollywood Reporter, about one hundred and fifty employees of the company will receive the final payment, which is about seven percent of the total number of employees. The layoffs will take place as part of the previously announced cost-cutting program that will affect all divisions of Time Warner, including Warner Bros. Earlier it was reported that budgets for future movie and television projects will be cut by a total of $ 200 million. Time Warner's financial difficulties began after a not-so-successful season for Warner Bros. and after its management rejected Rupert Murdoch's offer to buy. Australian media mogul was willing to pay $ 80 billion. Recall that HBO's North American audience has over 40 million subscribers. The channel's products include many popular TV series such as Boardwalk Empire, True Detectives, Game of Thrones, News, True Blood and many others. HBO TV projects have traditionally been the main contenders for the most prestigious professional awards. HBO's only competitor is Showtime. The Topic of Article: HBO Announces Massive Staff Layoffs. |
