You will be redirected back to your article in seconds

Viacom Lays Off 100 Staffers in Streamlining Effort

Viacom has laid off about 100 people as part of the company’s ongoing efforts to streamline operations across its various divisions.

Viacom confirmed the layoffs Tuesday.

“As part of our broader transformation efforts, we are continuously taking steps to strengthen and evolve Viacom for the future, including a focus on becoming a more agile and efficient organization,” a spokesman said.

Viacom CEO Bob Bakish signaled that some cuts were coming in is remarks the company’s most recently quarterly earnings conference call on April 25.

The cuts are part of a cost-containment effort and also reflect Bakish’s drive to de-silo a company that had long operated as separate fiefdoms across its Paramount Pictures, domestic and international TV units.

Bakish has emphasized that Viacom was not realizing the benefits of its size by having separate departments for numerous administrative and back-office support services. The layoffs this week have come in those areas rather than among staffers engaged in creative, programming and marketing functions, where Viacom has been increasing its investments.

Bakish has also stressed that the company’s long-term transformation effort has been to focus on cost management strategies that don’t involve headcount reductions.

“Most are driven by a continuation of our efforts to de-silo the company and act as one Viacom, consolidating real estate within given markets, standardizing policies and procedures, benefiting from our purchasing scale and more,” Bakish told Wall Street analysts on April 25.

Viacom has been in the spotlight during the past year as Bakish implemented a turnaround plan and the company has engaged with fitful merger negotiations with CBS Corp. Those talks would appear to be dead in light of the lawsuit filed Monday by CBS against National Amusements, the controlling shareholder of CBS and Viacom.

More Biz

  • Kirk Kerkorian

    Kirk Kerkorian's Estate Settles With Widow for $12.5 Million

    The estate of late media mogul Kirk Kerkorian has a reached a settlement with his widow, who claimed she was entitled to a third of his $1.8 billion fortune. Una Davis will receive just $12.5 million under the deal, which is set for court approval on Wednesday. Davis married the mogul in March 2014, becoming [...]

  • Meg Whitman and Jeffrey Katzenberg Strictly

    Variety's Innovate Summit 2018: What We Learned

    New insights into how data collection plays a role in the tech and entertainment spheres were revealed at Variety’s annual Innovate summit held in Los Angeles on Wednesday. Meg Whitman and Jeffrey Katzenberg discussed the exciting future of television designed for mobile phone viewing with their new streaming platform, “Quibi,” an executive from “The Ellen Show” discussed the [...]

  • Capitol Music Group Names Amber Grimes

    Capitol Music Group Names Amber Grimes Senior VP of Global Creative

    Amber Grimes has been named to the newly-created position of Senior Vice President of Global Creative for Capitol Music Group, it was announced today by Chairman & CEO Steve Barnett, to whom Grimes will report. According to the announcement, in her new position, Grimes will be integrally involved in formulating and executing the company’s global [...]

  • Kevin Hart

    Why Kevin Hart's Mea Culpa Was Too Little, Too Late (Opinion)

    Forgive me if this sounds trite or preachy, but the importance of owning up to our mistakes cannot be overstated. Denials, silence, cover-ups, repudiation — all are unacceptable. Media outlets around the globe, including ours, wrote about how Kevin Hart initially took no responsibility for having posted disgusting homophobic tweets years ago that resurfaced when [...]

  • Annie Lennox, Chrissie Hynde, Industry Execs

    Annie Lennox, Chrissie Hynde, Industry Execs Sign Anti-Brexit Letter

    Annie Lennox, Chrissie Hynde, Pink Floyd’s Nick Mason, Paloma Faith, Ed Sheeran manager Stuart Camp and Grammy/Emmy award-winning film composer David Arnold and several leading UK music industry bodies are among the signees of a letter drafted by the new organization Music4EU, stating that Brexit “represents a significant threat to the UK’s music industry” and [...]

  • Kevin Hart Oscars Gay Tweet Controversy

    What Public Figures Should Learn From the Kevin Hart Oscars Debacle (Guest Column)

    When social media erupted over Kevin Hart’s anti-gay tweets from years ago, many in the media and the entertainment industry believed he would immediately apologize, LGBTQ people would critique but ultimately accept his mea culpa, and the comedian would go on to host the Academy Awards. If offenders make a commitment to do better, their [...]

More From Our Brands

Access exclusive content