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Some of the long-standing workers in the premium market are vying for voluntary buy-outs while the parent company, WarnerMedia, is looking for "efficiency gains".
Some HBO employees are offered buyouts as a parent company, WarnerMedia, seeking "efficiencies" and cost savings.
Early retirement offers were sent to a group of workers in the premium business. They are voluntary and apply to employees aged 55 or older who have been working in the company for at least 10 years.
"In the interest of cost and operational efficiency, HBO has proposed voluntary early retirement schemes to a segment of its employees," the company said in a statement.
The buyout offers were launched a few days after HBO and other employees of parent company WarnerMedia received a note from CEO, John Stankey, about an effort at the scale of the company aiming to "maximize efficiency to enable innovation and investment". At present, HBO – one of the most profitable divisions of WarnerMedia – is the only unit of the company where early retirement programs are offered.
The bids come several months after the AT & T merger with Time Warner, the parent company of HBO, and the creation of WarnerMedia. The new company has developed a streaming service featuring original programming as well as library content from HBO and other Warner brands. Turner's Creative Director, Kevin Reilly, will have the same title with this yet unnamed service.
The company also plans to sell and lease 1.4 million square feet of office space in the Hudson Yards development in Manhattan, a move that could be worth up to $ 2 billion while allowing employees to move to the new offices on time.
Deadline first reported the news.
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