Not the way to start anyone's day, but the long-rumored Viacom layoffs have begun. It's 850 people, or about 7% of the global workforce, and many of those people will be informed today.
I've got two of the (no doubt) many official emails that will be going out to today across Viacom, the first from Viacom presidemt/CEO Philippe Dauman and senior executive VP/CAO Tom Dooley, the second from Paramount chairman/CEO Brad Grey. If you have others, please email me.
Bottom line: The cutbacks will hit everyone. Writes Dauman/Dooley:
Today, we are announcing a company-wide restructuring plan that includes staffing reductions in all divisions. This will result in a reduction of our worldwide workforce of approximately 7 percent, or about 850 positions. We are also suspending salary increases for the Company's senior level management in 2009. In addition, after a comprehensive review of our operations, we will write down certain programming and other assets.
And Grey:
These reductions are across the studio: accounting, business/legal affairs, corporate and government affairs, home entertainment, human resources, information technology, production, studio lot operations and Vantage.
Full emails after the jump.
UPDATE: Now with the text from the MTV Networks email from CEO Judy McGrath, per Gawker.
RELATED:
- 500 layoffs at NBC Universal [Variety]
- And here's the Universal memo from Shmuger/Linde [DHD]
Recent Comments