Employees of some of the top global media giants are bracing themselves for some tough news ahead.
Employees of HBO in Los Angeles and New York were recently informed of future layoffs to include about 150 people. HBO is the smallest of Time Warner’s three divisions. Company-wide, Time Warner is expected to shed about 2,600 positions, or about 10 percent of its workforce, by the end of November.
In addition to Time Warner, Turner Broadcasting, which includes CNN, TNT, TBS and the Cartoon Network, already announced that it would cut more than 1,400 positions. Turner has more than 13,000 employees worldwide.
Burbank-based Warner Brothers is also expected to trim approximately 1,000 positions as it prepares to slash its budget by $200 million dollars. Warner Bros. has about 8,000 employees and is Hollywood’s largest film and television production studio.