this week, I have learned. The company would not comment but I hear the staff reductions were across the combined organization, both on the CBS and the Viacom side.
This is the second round of layoffs at ViacomCBS; the first payroll cut was implemented shortly after the Viacom-CBS merger was completed in early December. More pink slips are expected in the coming weeks for an estimated combined headcount reduction of about 100 over the February-March period.. It saw the combined company swing to 4Q loss, which was attributed to merger-related expenses and various operating items.
On the Feb. 20 earnings call, ViacomCBS CEO Bob Bakish said that the company sees cost savings at $750 million, up from $500 million ViacomCBS originally anticipated at the time of the merger. To cut expenses, ViacomCBS also is looking to sell CBS’ famous Black Rock headquarters building in New York.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
United States United States Latest News, United States United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
After A Company Layoff, Survivors Are More Likely To Do ThisA type of 'survivor's guilt' can impact your career in a number of ways — including making you more likely to quit. Is this picture representative of American cubicles? Who the fuck could work everyday in that space? Someone still needs to do the work. 'You, you lucky survivor (2008) will have to absorb the work of those we have just laid off.'. The rule of cost cutting - It only works in an Employers mkt. If the job mkt is buoyant staff won't stay to be taken advantage of.
Source: HuffPostWomen - 🏆 27. / 68 Read more »
Global Stocks Extend Losses as Virus Fears DeepenStock markets in Europe and Asia as well as U.S. futures continued a course of steep selloffs as concerns over the economic cost of the new coronavirus gathered pace. Global recession is imminent... Oil futures now flirting with 49$ The struggle is real! I know what a real struggle is and the kind of guy and situation where a real struggle would ensue.I believe that they should have filed something, anything when it happened and a rape kit taken because if it was by force it would show and if she was too
Source: WSJ - 🏆 98. / 63 Read more »
TJX Companies Continue To Break RecordsThe off-price retailer, parent company to T.J. Maxx and Marshalls, had more than $40 billion in annual sales last year.
Source: wwd - 🏆 24. / 68 Read more »
US companies say the coronavirus outbreak could cut China revenues by 50%Some US companies are bracing for the revenue they make in China to be cut in half if the novel coronavirus outbreak extends into the summer. Incredible Good. Maybe they'll start hiring in the USA. Excellent news now we can really cut ties with China and start developing materials “made in the USA”.
Source: CNN - 🏆 4. / 95 Read more »
Source: Cannabis company Acreage Holdings cut 40 jobs - Business Insider'We notified a number of our colleagues across our organization that their employment has been eliminated as of today,' a top exec said in a memo.
Source: BusinessInsider - 🏆 729. / 51 Read more »