Major Layoffs at Viacom
12/4/08 at 9:23 AM
Viacom has announced it will lay off 850 workers, or 7 percent of its workforce. CEO Philippe Dauman tries to frame this as a good thing in the press release, which refers to the bloodbath as "restructuring plans designed to better align its organization and overall cost structure with evolving economic conditions." He fails. [MarketWatch]
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