People stuck at home during the COVID-19 pandemic may be consuming more media than ever, but the ax is falling at the companies that provide much of their entertainment.
NBCUniversal has begun issuing pink slips to employees, a person with knowledge of the matter said Tuesday, the result of faltering advertising sales and a shutdown of movie and TV production. Part of Comcast Corp., NBC is eliminating jobs across its broadcast and cable-television businesses, movie studios and theme parks. The cuts may amount to 10 percent of its 35,000-person payroll, the Wall Street Journal reported.
AT&T Inc., whose WarnerMedia unit includes the Warner Bros. studio and cable channels such as HBO, CNN and TBS, has been making its own reductions. The phone giant is eliminating thousands of jobs company-wide as part of a $6 billion belt-tightening effort, and WarnerMedia’s employees won’t be spared. That division is expected to begin layoffs next week, according to the Journal.