HBO Will Lay Off Over 150 Employees
TV

HBO will cut its workforce beginning this week as part of a Time Warner initiative to reduce its headcount companywide.

AceShowbiz - HBO is expected to lay off more than 150 employees this week. The cuts are part of Time Warner's wide lay-offs that have included the elimination of positions at Turner Broadcasting, including CNN, and Warner Bros.

Roughly 168 people of HBO's 2,400 staffers, or 7|percent| of the company's workforce, will be affected by the lay-offs. Companywide, Time Warner will cut about 2,600 positions, or about 10|percent| of its workforce, by the end of November.

Time Warner announced the plan to trim 10|percent| of its workforce earlier this month in order to rein in personnel costs by 13|percent| at the TV and film studio and free up dollars for investment in original programming.

HBO Chief Executive Richard Plepler said in a memo released on October 15 to notify his staff of the looming lay-offs, "We reviewed 2015 budgets and staffing plans with this in mind and reduced cost and redundancy wherever possible to preserve our ability to invest in our future. This will unfortunately include the elimination of some positions."

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