AT&T CFO John Stephens: WarnerMedia Layoffs Were “Not Because We Needed To Adjust Anything” After HBO Max Bow
Dade Hayes Finance EditorAT&T CFO John Stephens said the layoffs currently affecting WarnerMedia should not be seen as a course correction after the May launch of HBO Max, but rather as a “refocusing” of the company.The executive discussed the reductions of about 600 WarnerMedia staffers and many other topics during an online appearance Tuesday at the Oppenheimer Technology, Internet & Communications Conference.Starting Friday and continuing into this week, the restructuring was punctuated by the departures of entertainment chairman Bob Greenblatt and HBO Max chief content officer Kevin Reilly. The two had been installed as the principal architects of the streaming effort by John Stankey when he was overseeing WarnerMedia.