Viacom Said to Plan Companywide Job Cuts as TV Ratings Decline
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Viacom Inc. will cut staff across the company as it grapples with shrinking audiences and advertising sales at cable channels such as MTV and Comedy Central, according to people with knowledge of the matter.
Viacom is still determining the exact size of the cuts, said the people, who asked not to be named while the deliberations are under way. The company, which employed about 9,900 people at the end of fiscal 2014, plans to invest in expanding its international and online operations.