News Update: Viacom Layoffs

Rumor: Viacom Layoffs Coming “”"”"” It’s not gonna work. Rumor: Viacom Layoffs Coming 70-620 I’m dead!

Rumors have run strong this week that Viacom plans to announce substantial layoffs. Layoff rumors have swirled around Viacom for most of the fall.

It was not an easy task, but it was an essential step that will keep Viacom at the competitive forefront today and tomorrow. By now, you all have seen the email from Philippe Dauman and Tom Dooley regarding Viacom’s cost-saving initiatives, which are designed to better position the Company in this difficult economic climate.

Pali Capital’s Rich Greenfield wants to know exactly why Sumner had to suddenly sell $233 million worth of CBS and Viacom shares in the last few days. Which Rich can’t figure out is why National Amusements - the 1,500-screen movie theater company that Sumner used as his starting point while assembling Viacom - has debt issues at all.