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Layoffs Hit Paramount as Viacom Restructures

The cost cutting at Viacom has impacted Paramount Pictures, with around 40 employees handed pink slips at the studio.

The layoffs follow staff reductions at MTV, VH1, and TV Land.

“The personnel changes made today are part of Viacom’s previously announced restructuring effort,” according to a studio spokesperson. “These changes are designed to realign resources and create efficiencies in line with the evolving business environment.”

Overall, the cuts are expected to help Viacom save $250 million a year, according to company CEO Philippe Dauman.

The changes are part of the process of realigning Viacom’s resources to meet the new needs of the organization, the company has said.

Deadline first reported the news.

 

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