Viacom plans to cut 850 jobs
The American media conglomerate Viacom announced restructuring measures this week. The budget cuts at the parent company of MTV, Paramount Pictures, and BET are expected to result in the loss of 850 jobs.
The President and CEO of Viacom, Philippe Dauman, has announced restructuring measures involving the elimination of 850 jobs. This represents a reduction of 7 percent of the total workforce. The restructuring is to include cuts in all areas of the company, at MTV Networks, BET Networks and Paramount Pictures.
In a memo to employees, Dauman justifies the restructuring with the very serious challenges posed by the economic recession. However, Viacom's outstanding brands and its global operations promise a long-term basis for future growth.
In a memo to employees, Dauman justifies the restructuring with the very serious challenges posed by the economic recession. However, Viacom's outstanding brands and its global operations promise a long-term basis for future growth.
