economy
February 27, 2026
WBD employees fear coming wave of job losses as Paramount tops Netflix's bid to acquire company
WBD employees fear potential job cuts, culture clashes and high debt loads as Paramount supplants Netflix as the company's acquirer.
TL;DR
- Warner Bros. Discovery (WBD) board accepted Paramount Skydance's acquisition offer over Netflix's, prioritizing a higher bid of $31 per share.
- WBD employees expressed fear of job losses, culture clashes, and uncertainty about leadership if Paramount acquires the company.
- Employees preferred Netflix's offer due to less overlap in business areas and Netflix's CEO assuring WBD businesses would remain separate.
- Paramount plans to cut $6 billion by eliminating 'duplicative operations,' potentially leading to significant job cuts.
- There are concerns about leadership changes at CNN, with speculation that the network could be made to cater to a different audience.
- The deal faces regulatory approval in the U.S. and Europe, and WBD CEO David Zaslav acknowledged it might not close.
- The combined entity will inherit $64 billion in debt, raising concerns about financial constraints similar to WBD's recent past.
Continue reading the original article