HBO Max streaming announced massive cuts

HBO Max streaming announced massive cuts
Photo by Maciej Drążkiewicz / Unsplash

HBO Max has announced that it will be laying off at least 14 percent of its workforce. In a statement on the matter, company executives admitted that they would be forced to part with at least 14 percent of their staff.
Unfortunately, the environment in which we operate is changing rapidly, and we must continue to refine our model to set the course for long-term success. As you heard from David Zaslav during our last earnings report, producing top-notch content for HBO Max is critical to the future of all of WBD. Part of that process includes an honest assessment of what we need to move forward," HBO Max head Casey Bloys said in a memo.
According to his comments, the streaming service will begin focusing its resources on projects such as "Peacemaker," a character series from the movie "Dune," comic book adaptations of the villainous Penguin and Green Lanterns.
While I am confident that these structural changes will allow us to maintain a thriving business model, making these decisions has been extremely painful. We operate in an environment where we must adapt in real time to the demands of the industry and the company. None of this lessens the pain of parting with such talented, reliable, hard-working teammates. I extend my deepest appreciation to each of them as they move on to the next page of their lives," added the HBO Max executive.
HBO Max.
The streaming service, owned by Warner Bros. Launched in May 2020, but did not show the expected growth in its first six months of existence. It was later announced that all Warner Bros. Studios movies scheduled for release in 2021 would also launch simultaneously on HBO Max. This decision drew harsh criticism from many famous filmmakers, such as Denis Villeneuve and Christopher Nolan. The latter refused to continue working with Warner at all.