has learned. The reorganization — which includes layoffs of more than 100 employees primarily at MTV, Comedy Central, Nickelodeon, Pop and Smithsonian — is part of the ongoing post-merger integration of Viacom and CBS that is designed to provide $750 million in synergies over three years. The layoffs are not related to the current coronavirus outbreak.
Chris McCarthy, president of entertainment and youth brands at ViacomCBS domestic media networks, informed staff on Wednesday that the company had taken the “final step” to merge its four branded groups together, driven by the decision to shift “from cable to content” and move “from strong siloed brands to a powerful entertainment portfolio.”to staff, explaining that it was “critical that we continue these efforts to integrate and evolve ViacomCBS to remain competitive now and for the future.
To that end, we made the extremely tough decision to part ways with staff members across our teams. These changes were driven by two factors:Moving from strong siloed brands to a powerful entertainment portfolio
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