Viacom’s long-rumored cuts are here. The cable network is firing 850 people–seven percent of its workforce–and will take a charge of up to $450 million. It says the cuts will save it up to $250 million next year. The cuts will go into effect this month and will be spread throughout the company. Click through for the official release, as well as internal memos from CEO Philippe Dauman and MTV Networks CEO Judy McGrath.
Peter Kafka has been covering media and technology since 1997, when he joined the staff of Forbes magazine. Most recently, he has been the managing editor of the tech and media Web site, Silicon Alley Insider. Read more »
Here is a statement of my ethics and coverage policies. It is more than most of you want to know, but, in the age of suspicion of the media, I am laying it all out.
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