Viacom continued to dismiss selected employees as part of a restructuring effort that is expected to play out for the rest of March.
Many of the layoffs are related to Viacom’s decision to combine Comedy Central and Spike with MTV, VH1 and Logo, resulting in the elimination of some positions related to production, production management, research and digital, according to a person familiar with the matter. This person also confirmed that a small number of employees of CMT who were involved in development in New York had been affected.
“As announced, we are in the process of restructuring and there will be employees leaving the company as a result,” the company said in a statement. ” We are so grateful for the contributions they have made to Viacom.”
The owner of MTV and Paramount has been grappling with ratings declines at its cable networks, and is making efforts to create new methods of video distribution that are not as reliant on traditional measures, like Nielsen ratings. In remarks made to investors Monday, Viacom CEO Philippe Dauman said Viacom expected to cut around $250 million in costs as a result of the restructuring, which he expected to be completed by April 1.