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Changing TV habits spur Viacom layoffs, changes

Posted at 10:10 AM, Apr 07, 2015
and last updated 2015-04-10 16:38:24-04

Viacom has taken a massive $785 million pre-tax charge and plans to restructure the business.

The company said in a release it has made the move as a reflection of changing television habits of consumers. It will be cutting jobs.

Viacom also said the change "reflects the impact of write-downs of underperforming programming" hurt by weak ratings.