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        <title><![CDATA[ViacomCBS slashes CBS division with 400 more layoffs]]></title>
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            <media:title type="html">ViacomCBS slashes CBS division with 400 more layoffs</media:title>
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        <content:encoded><![CDATA[<p>ViacomCBS is slashing an additional 400 jobs as the broadcasting giant continues to search for cost savings from <strong>last year&#8217;s merger</strong> of CBS and Viacom even as it struggles to shore up losses from the coronavirus pandemic.</p><p>The layoffs, which kicked off this week, primarily took place at CBS&#8217; entertainment, news, studio, sports and local news divisions, according to sources.</p><p>A rep from CBS did not comment.</p><p>ViacomCBS has undergone <strong>several rounds of layoffs</strong> since the merger closed in December. Those cuts primarily hit administrative and back-office divisions in an effort to eliminate duplication. This week&#8217;s cuts are the first layoffs on the broadcast side, although a number of executives have departed since the merger.</p><p>Last month, <strong>ViacomCBS laid off 100 employees</strong> in the&nbsp;marketing divisions, as well as at MTV News, Paramount Network, Nickelodeon and “The Late Show with Stephen Colbert.&#8221;</p><p>News of the latest round trickled out late Wednesday, after <strong>CBS Chief Executive Officer George Cheeks</strong> circulated a memo, in which he wrote: “we are in the process of restructuring various operations, and unfortunately, this means there are layoffs.”</p><p>He continued: &#8220;the ongoing and transformative changes happening in the media business, as well as circumstances from the unprecedented pandemic that we continue to navigate.&#8221;</p><p>ViacomCBS has targeted <strong>$750 million</strong> in annualized run rate synergies over the next three years, including $250 million in 2020.</p><p>CBS News staffers were among the casualties, losing about 50 staffers, according to The Hollywood Reporter, citing anonymous sources.</p><p>CBS News president Susan Zirinsky circulated a memo to staff Wednesday, expressing her regrets, as the pandemic has squeezed advertising revenue.</p><p>&#8220;These decisions are particularly painful for our entire organization, which has performed at the highest level during the COVID-19 pandemic, overcoming so many obstacles,&#8221; Zirinsky wrote. &#8220;But this restructuring is necessary to ensure CBS News remains strong long into the future.&#8221;</p>]]></content:encoded>
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