Warner Bros. Employees Worried About Potential Job Losses With Paramount Merger

While Warner Bros. Discovery declined Paramount's offer in the past, Netflix has since pulled out of the deal, which is raising fears among some employees, according to a new CNBC report. 

The deal, which will pay $31 per share, will be great for shareholders, but CNBC spoke with 10 employees who have a slightly different view. 

CNBC Talks With Employees, WBD Leaked Audio

CNBC noted that all 10 employees they spoke with asked to remain anonymous "for fear of potential backlash." 

In their comments, they said that they were worried about job losses and who would run the divisions they're in with a Paramount merger. 

“It’s fair to say people are deflated by the news,” said one long-term WBD executive.

From here, the deal needs to receive regulatory approval not only in the USA but also in Europe.

After striking a deal with Paramount and Netflix dropping out, Warner Bros. Discovery CEO David Zaslav held an all-hands meeting, during which he said the deal could be blocked and "expressed sympathy for those experiencing a sense of whiplash going from Netflix to Paramount," CNBC reported. 

“The deal may not close. If it doesn’t close, we get $7 billion, and we get back to work,” Zaslav said in leaked audio, per Business Insider. 

CNBC reported that the employees favored the idea of Netflix purchasing them, as Netflix co-CEO Ted Sarandos said it would leave Warner Bros. Discovery alone, keeping the theatrical releases and HBO Max separate. 

This comes after Paramount executives had previously stated they planned to cut $6 billion by eliminating "duplicative operations" across “back office, finance, corporate, legal, technology, infrastructure, et cetera,” per Chief Strategy Officer Andy Gordon, CNBC said. 

CNN Employees Also Fear Job Losses

Right now, Bari Weiss heads up CBS News, which is under Paramount. 

With Paramount taking over, Weiss may also oversee CNN to a degree, and Paramount CEO David Ellison told President Donald Trump that he'd make changes at CNN if the company acquired WBD, per CNBC. 

CNBC said it talked with three CNN employees who said "there’s rampant fear among their colleagues about Weiss making dramatic changes to the cable network’s anchors and tone.

Mark Thompson, who heads up CNN, had this to say in a memo earlier this week: “Despite all the speculation you’ve read during this process, I’d suggest that you don’t jump to conclusions about the future until we know more," CNBC reports. 

Additionally, Brian Stelter, a CNN media reporter, said that the company “is a highly profitable business, and it would be foolish for any owner to put that at risk.”

Something I said to @WolfBlitzer this morning: CNN is a highly profitable business, and it would be foolish for any owner to put that at risk. pic.twitter.com/SUxcaDJuQR

— Brian Stelter (@brianstelter) February 27, 2026

Potential Clashes With Direction and Creativity?

Something else CNBC noted was that there could be potential clashes between creativity and direction for the demographics. 

CNBC noted that WBD employees think there may be "too many cooks in the kitchen" and it could "bog down creativity and innovation for both film and TV."

Additionally, TNT Sports, which is under WBD, has gone toward a younger demographic with Bleacher Report and House of Highlights, while CBS Sports mostly caters to an older audience. 

Finally, another concern for employees, per CNBC, is the $64 billion in debt coming along with the deal. 

From here, we'll see if the merger is completed or falls short.