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Warner Bros. Entertainment Inc. (commonly known as Warner Bros. and abbreviated as WB), is an American diversified multinational mass media and entertainment conglomerate headquartered at the Warner Bros. Studios complex in Burbank, California, and a division of AT&T's WarnerMedia. Founded in 1923 by brothers Harry, Albert, Sam, and Jack Warner, the company established itself as a leader in the American film industry before diversifying into animation, television, and video games, and is one of the "Big Five" major American film studios, as well as a member of the Motion Picture Association (MPA).
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Magic Leap Reportedly Lays Off 1,000, or Half Its Workforce, Halting Consumer Product Plans
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variety.com
variety.comBy Todd Spangler NY Digital Editor Magic Leap, the augmented-reality hardware company whose backers include Warner Bros., AT&T and Alphabet, is making significant layoffs — and tabling its efforts to create consumer-oriented AR products.
In a blog post Wednesday, Magic Leap founder/CEO Rony Abovitz announced that the company is “making targeted changes to how we operate and manage costs,” citing the current COVID-19 crisis.
As part of that Magic Leap will “lay off a number of employees.” The company is letting go about 1,000 employees, or roughly half the workforce, as first reported by Bloomberg.
The layoffs “will occur at every level of our company, from my direct reports to our factory employees,” according to Abovitz, who founded the
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