Thread regarding ViacomCBS layoffs

I really wonder where the "$500 million in Cost Savings" will come from?

They provided a target of $500 million in cost savings from merging....

I really wonder where the "$500 million in Cost Savings" will come from?

On a call with Wall Street analysts later in the day, Bakish said the cost savings target does not include content and marketing costs.

One banker, though, suggested such corporate functions as legal, finance, human resources, government relations, communications and technology operations as among those that can be combined to provide savings.

Cutting costs will include the departure of some managers. One who has already agreed to leave the merged company Wade Davis (Viacom CFO).

by Anonymous
| 2374 views | | 5 replies (last August 24, 2019) | Reply
Post ID: @OP+10x94OdS
Comment! It's anonymous!

5 replies (most recent on top)

Re: MTS, then let's HURRY IT UP. Senior Management take more vacation than Viacom allows, are consistently "working from home", and completely MIA when s**t hits the fan
HURRY IT UP
HURRY IT UP
HURRY IT UP
HURRY IT UP

by Anonymous
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Post ID: @asis+10x94OdS

True

I sure to hell its senior management at MTS. This dinosaurs need to be retired for fresh innovative blood.
by Anonymous
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Post ID: @1klw+10x94OdS

I sure to hell its senior management at MTS. This dinosaurs need to be retired for fresh innovative blood.

by Anonymous
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Post ID: @1mqi+10x94OdS

MTS

by Anonymous
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Post ID: @1pck+10x94OdS

Every article I read was pretty clear about where the $500 mill would come from, layoffs.

From CNN: " ViacomCBS is targeting $500 million in cost savings. Is that really possible? How many jobs will be nixed?"
https://www.cnn.com/2019/08/14/media/shari-redstone-viacom-cbs-reliable-sources/index.html

From the NY Times: "The combined company also expects to see about $500 million in cost savings, which typically come in the form of layoffs."
https://www.nytimes.com/2019/08/13/business/cbs-viacom-merger.html

From the Washington Post: "There would be some savings — $500 million, according to one estimate — to the deal. While there is little overlap between the companies’ content lanes, there are significant back-office redundancies, with robust publicity, marketing and human resources departments, among others, at both firms. The savings would probably come with heavy layoffs."
https://www.washingtonpost.com/business/2019/08/12/cbs-viacom-merger-is-logical-step-probably-only-first-one/

by Philippe's Ennui
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Post ID: @rtb+10x94OdS

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