Thread regarding ViacomCBS layoffs

@a8 Quick question; do you think the layoffs will be coming the day after the VMA's?

@qq is this true??? Someone tell the trades about this if so!

We don’t have enough hr to do all the firings but tom cruises Scientology guys will help the company out with communicating layoffs

@es I was referring to my department before last year's layoff.

@es their source is hearsay! But they will say their manager told them, and not see the irony in their comment.

@ef what’s your source? 9/9 is the first time we’re hearing a date for layoffs, did you get it from somewhere?

@a9 do your research before making comments about opinions or hearsay. There will be layoffs on 9/9.

@ce You mean managerial staff, right? In my department, we had numerous redundant managers sitting around, coasting through the entire work shift while making hefty salaries.

@e1 can you share when the task was assigned? If you can....

@d6 upcoming

@d5 for this upcoming round or previous?

@d0 The savings are not just coming from reductions. Each business was given a target for head count reductions and other cost cuts.

Last year's "big" layoff was "$500-million in annualized cost savings," affecting 15% of the US-based workforce, which was ~2,000 employees. $2-billion is just their floor:

"Ellison noted that he believes the upcoming layoffs and restructuring could 'exceed' the $2 billion target."

It would be irresponsible to assume that all of their cost-savings will be in salaries, but for the sake of argument, that potentially means ~8,000 jobs cut from their 18,000 total employees.

No matter what happens in the restructuring layoffs, Just be grateful for the time and experiences you have had, and the people you worked with. If it doesn't work out, something better is always around the corner, and the memories will always be with you. That's life. No job is every guaranteed safe. It's like breaking up with a girlfriend/boyfriend. It doesn't always work out the way you want it to, but something better is always out there if you keep moving forward...

Sounds like anyone who works for cable nets will be dunzo. Those nets will strip all premieres and expensive acquisitions and just become library nets. Need a tiny team to manage, and all logs will be outsourced.

@cf which mini corp teams. Please elaborate.

@c3 Keep corporate functions, get rid of the mini-corporate teams within the brands. That is where soooooo much fat is.

Without Skydance there is plenty of redundancy at paramount. Could cut the company work force in half and nobody would notice any difference in product.

Funny how he pledges to be so “honest” and “direct” with us yet here we are reading about the scope of layoffs in deadline, with zero clue about timeline.

@c3 SD is so small not a ton of duplicative corporate functions

Probably corporate functions and production functions that have overlap with Skydance. Also hope they get rid of redundant management.

painful cuts- want it one and done not quarterly
but cable nets not being spun off BET not being sold
where are they getting these painful cuts from if the company is still doing business
i get some corp function could be centralized under GC
seems like more money being spent on DTC

@a6 for the love of god stop saying the day after the VMAs. That is all hearsay and has been floating around before the last layoffs. It’s a date someone made up with zero knowledge and is just linked to a round of layoffs after the SuperBowl. Not every layoff is after an event. And if it’s true, and it’s a big if, the vma’s have zero impact on 90% on the business.

@a6 are you freaking serious? Sept 8th? What about the Nov date?

Why did the media get more information than your own employees at an internal town hall?

September 8th

@a1 Odds are they'll hollow out every internal function, outsource that work to vendors who will cost far more to do the same things, but with no institutional knowledge or existing relationships with our partners. All in the name of "efficiency."

We're dealing with people who come from the "move fast and break stuff" school of tech bro toolery.

Painful. My goodness.......