Layoffs and restructuring are currently ongoing at ViacomCBS as the two media entities are settling into each other post-merger. This merger is expected to produce $750 million in synergies in the space of three years.
According to Variety, more than a hundred employees from Smithsonian, Pop, Nickelodeon, Comedy Central, and MTV have been laid off, with some big names departing such as Smithsonian Channel president Tom Hayden and Comedy Central head of content and creative enterprises Sarah Babineau.
Both Babineau and Hayden have had a number of accomplishments during their time in their respective positions. Babineau launched the Trevor Noah era of “The Daily Show” and was also involved in popular Comedy Central shows “Inside Amy Schumer” and “Broad City.”
Hayden, meanwhile, was the one who launched the Smithsonian Channel in 2007. Before the Smithsonian Channel, Hayden had been working for Showtime Networks in various capacities since 1989.
The Hollywood Reporter quotes a note sent out by ViacomCBS CEO Bob Bakish which said that the moves are meant to streamline their operations as well as manage their expenses.
While the layoffs have nothing to do with the coronavirus pandemic, Bakish did acknowledge that the situation was a “major disruption.” ViacomCBS had earlier released a statement saying that the impact of the coronavirus pandemic of their business would be consequential, even if they could yet estimate what its impact would be on future operating results. Nevertheless, Bakis said that the company wants to be as supportive of their employees and make any transitions as smooth as possible.
Of course, ViacomCBS isn’t the only media company undergoing changes in the time of the coronavirus. Because of the coronavirus pandemic, Disney World has had to furlough 43,000 staffers. Executives from the Walt Disney Co. have also had their base salaries cut by 20 to 30 percent.
Coronavirus infections continue to rise around the world and will likely factor in any business decisions ViacomCBS makes in the future. According to the World Health Organization’s situation report for Apr. 30, confirmed COVID-19 cases around the world have now reached 3,090,445, with 71,839 of that total being new cases. Deaths caused by COVID-19 are now at 217,769 people worldwide, with 9,797 of those being new deaths.
In the United States, the Apr. 30 update from the Centers for Disease Control and Prevention puts the number of confirmed COVID-19 cases at 1,031,659 people, with 26,512 of those being new cases. Deaths in the United States caused by COVID-19 are now at 60,057, with new deaths amounting to 2,552 of that total.