Posted on 09/22/2011 5:31:37 PM PDT by jimbo123
Viacom employees have been hit with a round of layoffs, Adweek has learned. Pink slips were handed down Thursday afternoon. A Viacom spokesperson confirmed the cuts, and said that the downsizing primarily took place within the media conglomerate’s music group, which includes MTV, VH1, CMT, and Logo.
A number of departments within the music group were affected, including digital, consumer marketing, and on-air promotions. Outside of the music group, cuts were made in affiliate marketing, an area that supports BET Networks and Viacom Media Networks, which counts Comedy Central and Nickelodeon among its holdings.
The downsizing took place the same day Viacom CEO Philippe Dauman told financial analysts at a Goldman Sachs conference that the company's advertising revenue growth this quarter is expected to miss the company's double-digit targets. Following that announcement, Viacom stock dropped about 8 percent.
(Excerpt) Read more at adweek.com ...
Can we just shut all those channels down??
America’s IQ might go up a bit
very cool. they deserve it.
They can get ready for shovel-ready jobs. Just call their master O-Hole and get an address where to show up.
Why do Americans deserve to lose their jobs?
If they’re not working, then what do you suggest they do? Live off the tax revenue that you supply?
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