AT&T Inc.’s WarnerMedia is restructuring its workforce as it seeks to reduce costs by as much as 20% as the coronavirus pandemic drains income from movie tickets, cable subscriptions and television ads, according to people familiar with the matter. The overhaul, which is expected to begin in the coming weeks, would result in thousands of layoffs across Warner Bros. studios and TV channels like HBO, TBS and TNT, the people said.

Source: Wall Street Journal October 08, 2020 18:36 UTC