Warner Bros Discovery To Undergo Major Global Ad Sales Team Restructuring

Warner Bros. Discovery, Inc WBD could downsize up to 30% or nearly 1,000 jobs in its global advertising sales team, Reuters reports.
Warner offered members of its U.S. advertising sales team an option to leave the company voluntarily.
The global advertising sales team has ~3,000 members.
Also Read: Warner Bros. Discovery Registers 15% Revenue Growth In Q1 Backed By Advertising, Distribution Revenue
Warner looked to save $3 billion in costs after a $43 billion merger between Discovery Inc and AT&T Inc's T Warner Media.
After enjoying immense popularity during the pandemic, the streaming industry is battling subscriber loss following recovery coupled with surging inflation and lower consumer spending.
Major companies resorted to job cuts ranging, citing macro uncertainties.
Price Action: WBD shares traded higher by 2.07% at $14.27 in the premarket on the last check Wednesday.
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