As Viacom continues its massive in-house restructuring, more and more employees are receiving their pink slips.
The company recently decided to compartmentalize and combine several networks including Comedy Central, Spike, MTV, Logo and VH1. This has led to the elimination of several production, management, research and digital positions, according to Variety. A small portion of employees at CMT have also been impacted.
"As announced, we are in the process of restructuring and there will be employees leaving the company as a result," the company said in a statement. "We are so grateful for the contributions they have made to Viacom."
MTV and other Viacom cable networks have been struggling with low ratings. As a result, the company is attempting to unearth new avenues for video distribution that are not as dependent on standard measures, such as the Nielsen ratings. Viacom CEO Philippe Dauman said Monday that the company is expected to cut roughly $250 million in costs because of the restructuring, which should be over by April 1.
