Due to the COVID-19 pandemic, the media and entertainment business is losing revenue from movie tickets, cable subscriptions, and television ads. Telecom giant AT&T Inc’s (NYSE: T) subsidiary WarnerMedia LLC is the latest in the sector to consider layoffs as a cost-cutting measure, according to the Wall Street Journal.Time Warner Inc. was renamed WarnerMedia after AT&T’s acquisition in 2018. What Happened: WarnerMedia’s restructuring plans could kick off sometime in the coming weeks and the layoffs would take place across Warner Bros Studios and other subsidiaries like HBO, TNT, and TBS, as per the Journal. The company is reportedly targeting …read more
Source:: Yahoo Finance
