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

  • Jussie Smollett Good Morning America

    Jussie Smollett Angrily Denies Complicity in Attack

    Attorneys for “Empire” actor Jussie Smollett issued a statement Saturday denying that he orchestrated his Jan. 29 assault, and saying he is “angered” and “devastated” by recent developments in the case. Chicago police want to interview Smollett, after learning new evidence from two Nigerian brothers who were released on Friday night. Local media outlets have [...]

  • Walt Disney Archives Founder Dave Smith

    Walt Disney Archives Founder Dave Smith Dies at 78

    Walt Disney Archives founder Dave Smith, the historian who spent 40 years cataloging and preserving the company’s legacy of entertainment and innovation, died Friday in Burbank, Calif. He was 78. Smith served as Disney’s chief archivist from 1970 to 2010. He was named a Disney Legend in 2007 and served as a consultant to the [...]

  • Colin Kaepernick Kneel

    Colin Kaepernick, Eric Reid Reach Settlement With NFL

    Colin Kaepernick and Eric Reid, two football players who alleged the National Football League colluded to oust them from the game after they started kneeling in protest of racial inequality during the playing of the national anthem, have reached a settlement in the matter, according to a statement from the sports organization and lawyers representing [...]

  • R. Kelly

    R. Kelly Could Be in ‘Big Trouble’ Over Alleged New Sex Tape, Attorney Says

    Strong allegations of sexual misconduct have followed R. Kelly for 25 years, but the singer has always managed to slip free. Yet reports that a videotape of him sexually assaulting an underage girl, combined with the outcry surrounding the Lifetime documentary “Surviving R. Kelly,” means that public sentiment, at the very least, is definitely not [...]

  • Christian Bale as Dick Cheney in

    New Media Residuals and Feature Films Contribute to Spike in Writers' Pay

    The outlook for members of the Writers Guild of America has brightened — even amid pervasive uncertainty in the entertainment industry. According to the most recent report to WGA West members, earnings surged 2.8% to $1.41 billion in 2017, thanks mostly to gains in feature films and new-media residuals. Total covered earnings for WGA West [...]

  • Joe Dante Gremlins

    Hollywood Execs Seek Licensing Deals at the New York Toy Fair

    On Feb. 16 more than 30,000 studio executives, buyers and toy company reps will gather in Manhattan for the annual Toy Fair New York, all vying for market share and trying to snag the latest hot trend in a fast-changing industry. Those working the film side of the business will focus much of their attention [...]

  • Lady Gaga Bradley Cooper A Star

    Universal Music Group Fuels 11.3% Rise in Vivendi's 2018 Revenues

    Vivendi’s revenues were up 11.3% to €13.93 billion ($15.7 billion) in 2018, powered by Universal Music Group, which delivered such hits as the “A Star Is Born” soundtrack and Drake’s new album. UMG’s revenues climbed by 10% to €6 billion ($6.8 billion) compared to 2017. On top of the “A Star Is Born” soundtrack, the [...]

More From Our Brands

Access exclusive content