ViacomCBS Chief Updates Staff On Layoffs, Cost-Cutting Measures
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billboard.comAs ViacomCBS keeps up its plan for $750 million in post-merger cost savings, CEO Bob Bakish sent a note to employees on Wednesday as an update on the company's progress. "I know that even before the coronavirus pandemic, we were already in a period of significant change to integrate our newly combined company," Bakish wrote, adding that the company plans to continue "to integrate and streamline our operations, manage our costs as diligently as we can, and follow through on our committed post-merger synergy targets." On Feb.
20, the newly merged conglomerate raised its planned cost-savings guidance from $500 million to $750 million over three years as it consolidate teams from Viacom and CBS media assets.
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