Discovery Communications has stated that it is looking to making cost savings via staff cuts, restructurings and budget alterations.
In a Memo to staff on May 4th, the broadcaster’s president David Zaslev said it was rolling out a number of cost-reduction efforts around the globe. “The specifics of the cost reductions will vary across business units and geographies, and you will hear from your leadership team in the days and weeks ahead. There is no doubt that change can be challenging and difficult. This process, while necessary, is a tough one. In making these hard decisions, we are positioning Discovery for many more years of success and growth as a leader in global entertainment.”
The Memo continued: “The cost savings will allow us to continue growing our business while investing in four key areas: more loved content; sports and other valuable IP; digital services and OTT products; and international growth markets.”