Warner Bros (NASDAQ:WBD) layoffs are a hot topic on Wednesday as the entertainment company tightens its belt with more job cuts.

This has Warner Bros reportedly laying off roughly 1,000 workers. These headcount reductions are said to be across multiple sectors. That includes its finance, business affairs, production and Max divisions.

These layoffs come as Warner Bros is changing up its plans around streaming. The company has put less of a focus on Max recently. That includes taking shows that were coming to the platform, such as the Harry Potter TV series, and bringing them to cable networks first.

Currently, not everyone at Warner Bros has been informed of the layoffs. The company has started cutting jobs already and will continue to notify affected employees throughout the week.

Ongoing Warner Bros Layoffs

This isn’t the first batch of layoffs at Warner Bros. The company also cut a large number of employees last year. That even saw it nix several executive roles following the merger of Warner Bros and Discovery.

In comparison, the newest batch of layoffs at Warner Bros are much smaller. These cuts also come after CNN, which is owned by WBD, cut about 100 employees last week.

WBD stock is up 15.9% as of Wednesday morning.

Investors will want to keep reading for more of the most recent stock market stories today!

We have all of the hottest stock market news traders need to know about on Wednesday! A few examples include the latest news from Longeveron (NASDAQ:LGVN), Taiwan Semi (NYSE:TSM) and GitLab (NASDAQ:GTLB) today. All of that info is ready at the links below!

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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.