- Discovery Communications (DISCA -1.5%) is pursuing voluntary buyouts in order to cut staff and will take charges of $40M-$60M to cover severance and related expenses.
- The company committed to a cost savings plan on April 28, according to tonight's filing. The plan will include personnel changes, restructurings and budget re-allocation. It started notifying employees about the buyouts today.
- There are more actions ahead to reduce costs and the company is "continuing to evaluate its overall expense base."
- David Zaslav memo
- Now read Discovery Communications Is A Unique Content Provider Being Valued Like All The Others »
Discovery Communications spending $40M-$60M on layoffs
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Symbol | Last Price | % Chg |
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Warner Bros. Discovery, Inc. |