According to a new report from Deadline.com, WarnerMedia will be issuing a new round of layoffs due to COVID-19. As many of you know, WarnerMedia, which is AEW’s broadcast partner, is in the middle of some major restructuring. The company confirmed in a statement that they are looking to implement additional cuts. You can check out their statement below:
“Like the rest of the entertainment industry, we have not been immune to the significant impact of the pandemic. That includes an acceleration in shifting consumer behavior, especially in the way content is being viewed. We shared with our employees recently that the organization will be restructured to respond to those changes and prioritize growth opportunities, with an emphasis on direct-to-consumer. We are in the midst of that process and it will involve increased investments in priority areas and, unfortunately, reductions in others.”
WarnerMedia owns the TNT Network, which airs AEW Dynamite every Wednesday night. It should be noted that in addition to TNT, TBS and TruTV are also expected to face cuts. With that being said, AEW is unlikely to be affected as their current deal is set to last for several more years and the network is very happy with their steady ratings.
Layoffs have begun taking place in large amounts across entertainment companies as Disney recently laid of 28,000 employees at its theme parks. Also, ViacomCBS laid off hundreds as it restructures after its merger late last year. NBCUniversal, the home of WWE Monday Night RAW, is also expected to lay off employees shortly.