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Warner Bros. Discovery stock falls amid job cuts

Yahoo Finance Live host Seana Smith peeks at Warner Bros. Discovery stock following reported job cuts and the production companies' transition into its merger.

Video Transcript

[MUSIC PLAYING]

SEANA SMITH: Welcome back. Check out shares of Warner Brothers Discovery. After several weeks of speculation, layoffs are reportedly hitting HBO and HBO Max. Now the cuts are coming to the network's reality programming and casting divisions and will affect roughly 70 jobs, according to several published reports. Now the move comes amid broader cost cutting after the Warner Brothers Discovery deal closed earlier this year. The company will combine Discovery+ and HBO Max next year. Shares today off just about 3 and 1/2%.