Viacom to cut jobs as part of major reorganisation

New York

MEDIA-entertainment giant Viacom said it plans unspecified "workforce reductions" as part of a wide-ranging reorganisation to help boost its financial performance in the face of increasing competition.

Viacom, which owns Paramount studios in Hollywood and a range of television channels including MTV and Comedy Central, said in a statement on Monday that it was unveiling a "strategic realignment, including initiatives designed to promote greater cross-brand collaboration, focus on new growth areas, and improve operational efficiency and financial performance".