Turner’s widespread layoffs continue this week as HBO will lay off 150 employees, insiders with knowledge of the plan confirmed to TheWrap.
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The job cuts represent 7 percent of the premium channel’s approximately 2,400 staffers.
In an internal memo obtained by TheWrap, CEO Richard Plepler informed staff of the imminent changes:
“We have a long history of tightly managing our overhead so that we’re able to maximize investment in the creation, distribution and marketing of content. We also shift resources when necessary toward areas with the greatest potential to drive revenue growth and to enhance our brand.