You have to go back 80 years to find a time when preserving film negatives wasn't common. That's not an argument for streaming in any way.
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HBO Max to lay off 70% of staff and end scripted content (UP: Actually, no to both)
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You have to go back 80 years to find a time when preserving film negatives wasn't common. That's not an argument for streaming in any way.
Slide said male leaning 51/49 makes it still technically correct which is the best kind of correct
The slide basically is announcing movies/TV will all be men oriented and women will get reality tv.
Lol.
I feel like the thread title should at least be updated to indicate that the CEO is saying the opposite.
View: https://twitter.com/mbmcandrews/status/1555199400149917703?s=21&t=utGPmYntTV06q0ZmdIQ3cw
This is an interesting Twitter thread.
And no, nothing that Zaslav said contradicts the thread, actually.
View: https://twitter.com/cgasparino/status/1554924332425568256?s=21&t=utGPmYntTV06q0ZmdIQ3cw
Gasparino is an asshole and works for Fox, but he is covering merging decades now. It happened exactly like he said. It's obvious that lay-offs wouldn't be announced on an earnings call.
Looking at the the title update, looks like you were right regarding the rumors and both of us were right regarding the hyperbole ;P
You did not really need to be able to see the future to correctly guess this.
Both things can be true
The layoffs won't be as bad as the original rumors
The layoffs will still be bad for a lot of people
The layoffs won't be as bad as the original rumors
The layoffs will still be bad for a lot of people
View: https://giphy.com/gifs/look-shrug-oprah-l4pTsh45Dg7jnDM6Q
I'm
Yeah. They weren't going to announce a bunch of bad news on the earnings call.
If you look at Zaslav's history, he apparently does layoffs in smaller groups over a longer period of time to avoid media and any employment law issues.
So instead of 70% gone today, it could be over a year or two in small groups of 20 or 30.
This is also more common for tech companies.
As others have said, they were never going to announce plans to gut the workforce on an earnings call.
So maybe they aren't cutting numbers, but if you're assuming "No cuts because they didn't say it!" I wouldn't put money on that bet.
So instead of 70% gone today, it could be over a year or two in small groups of 20 or 30.
This is also more common for tech companies.
As others have said, they were never going to announce plans to gut the workforce on an earnings call.
So maybe they aren't cutting numbers, but if you're assuming "No cuts because they didn't say it!" I wouldn't put money on that bet.
Very confusing. Especially with all the weird "I was right!" "No, I was right!" flexing going on in this thread.
Companies announce cost reductions and layoffs on earnings calls all the time because that audience doesn't consider it bad news. Investors want to hear about plans to keep costs down because that means profits go up. And there's a massive difference between a series of small targeted cuts and massive layoffs. If over the next 12 months WB cuts 1,000 people but adds 800 in other areas the actual impact to end users is going to be very small unless you're worried about specific types of programming. Yes, it sucks for the people involved but that's a massive goal post move from where this thread started.
Layoffs and restructuring are usually good news (from a shareholder's standpoint) on an earning call, though?
"We're not firing anyone"
::stocks go down::
i suppose its still true that they didn't announce the bad news at the earnings call either way lol
They never said they weren't firing anyone during the earning calls. In fact, they not saying anything about the firings was rightfully predicted by several outlets that cover mergers. The firings are definitely happening.
yes, im just saying neither is announced during the call. "Bad news" would be they're not firing anyone. "Good news" would be they are.
I more so meant that a bunch of people won't be fired the day of the earnings call.
You will hear about layoffs ahead of the earnings call and then words like cost cutting and restructuring which just means expect to see more layoffs.
In addition to that, many thought there were just going to be mass cancellations of HBO Max shows at the same time and that wasn't going to happen either.
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