On September 13, 2022, entertainment and media giant Warner Bros. Discovery, Inc. (WBD) laid off 100 employees from its ad sales department as part of its cost-saving measures. Furthermore, the company’s mammoth loss in its second quarter has generated negative investor sentiment.
Over the past month, the stock has lost 5.5% to close the last trading session at $12.09. It has lost 49.1% year-to-date and 54.7% over the past year.
