An Estimated 100 Pop TV Employees Are Getting Laid Off

The CBS-Viacom merger was always expected to result in layoffs, and CEO Bob Bakish recently indicated that more pink slips are coming. ViacomCBS is going through its second round of layoffs since the CBS-Viacom merger in December 2019. Deadline reported that the latest wave of layoffs were centered on Pop TV and noted that an…

The CBS-Viacom merger was always expected to result in layoffs, and CEO Bob Bakish recently indicated that more pink slips are coming.

ViacomCBS is going through its second round of layoffs since the CBS-Viacom merger in December 2019.
Deadline reported that the latest wave of layoffs were centered on Pop TV and noted that an estimated 100 employees were expected to receive pink slips by the end of March.
IndieWire has reached out to ViacomCBS for comment.
“Schitt’s Creek,” Pop’s flagship series, will air its series finale on April 7. Pop is reviving Netflix’s “One Day at a Time” for a fourth season that will premiere on March 24. CBS took full ownership of the cable channel in March 2019 for an undisclosed sum.
Layoffs were always expected to result from the VCBS-Viacom merger. The combined entity was anticipating $500 million in “cost savings,” — which often means layoffs — as far back as August 2019. ViacomCBS CEO Bob Bakish told investors that the company would seek to increase cost savings to $750 million during the its Feb. 20 earnings call, according to Deadline.

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GameStop lays off longtime district managers

GameStop has laid off a number of district managers, sources tell Polygon, as part of a middle-management cost-cutting exercise. According to multiple sources, the company recently cut as many as 10 district managers, whose job was to monitor multiple stores and supervise store managers. The layoffs could mean additional work for already stretched-thin GameStop employees.…

GameStop has laid off a number of district managers, sources tell Polygon, as part of a middle-management cost-cutting exercise. According to multiple sources, the company recently cut as many as 10 district managers, whose job was to monitor multiple stores and supervise store managers. The layoffs could mean additional work for already stretched-thin GameStop employees.
Two sources told us that managers who were previously tasked with handling around a dozen stores are now handling more than 20, spanning greater geographical areas than previously. Some of those who lost their jobs had been serving at the retail giant for more than a decade. Recruitment site Indeed lists GameStop district managers as “similar to an innovative business entrepreneur and owner,” and as “leaders of the
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Pop TV Undergoes Layoffs Following Move To ViacomCBS Entertainment & Youth Brands Group

As Deadline reported yesterday, ViacomCBS is currently going through its second round of layoffs following the CBS-Viacom merger in early December. There are significant staff reductions at Pop TV, which was part of CBS Corp. and was recently folded into the ViacomCBS Entertainment & Youth Brands Group, run by Chris McCarthy. The layoffs are result of…

As Deadline reported yesterday, ViacomCBS is currently going through its second round of layoffs following the CBS-Viacom merger in early December.
There are significant staff reductions at Pop TV, which was part of CBS Corp. and was recently folded into the ViacomCBS Entertainment & Youth Brands Group, run by Chris McCarthy. The layoffs are result of the integration.
Pop President Brad Schwartz just sent out an internal memo addressing the cuts. Stressing that he will continue to run Pop going forward, he noted that “we are saying goodbye to some close friends and talented colleagues.” Along with Schwartz, other members of his senior team are also staying on, sources said.

Pop is heading into the series finale of its flagship series Schitt’s Creek on April 7 and the network debut of One Day At A Time.

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Dow Jones News: Consumer Giants Tumble; Cisco Down on Layoffs

Shares of well-known companies are taking it on the chin, and Cisco is downsizing its workforce to deal with a slump in demand. The stock market was carving out new all-time highs not too long ago. The novel coronavirus outbreak put an end to that. The Dow Jones Industrial Average (DJINDICES:^DJI) was down 3% at…

Shares of well-known companies are taking it on the chin, and Cisco is downsizing its workforce to deal with a slump in demand.

The stock market was carving out new all-time highs not too long ago. The novel coronavirus outbreak put an end to that. The Dow Jones Industrial Average (DJINDICES:^DJI) was down 3% at 10:55 a.m. EST Friday, bringing its weekly losses close to 15%.
No stock in the Dow was left untouched by this sell-off, with the consumer giants suffering particularly steep declines. Shares of tech giant Cisco (NASDAQ:CSCO) were also suffering after reports of layoffs at the networking hardware provider.
Consumer giants down big
It’s not a good day for the consumer-facing stocks in the Dow. As the novel coronavirus — which causes the COVID-19 illness — gains ground outside of China, investors are in panic mode.
Image source: Getty Images.

Coca-Cola (NYSE:KO) stock was down 5% in the morning, pushing shares of the beverage giant about 13.4% below its 52-week high. Earlier this month, Coca-Cola warned that the outbreak would hurt its first-quarter results, shaving 2 or
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UK banks Lloyds and Virgin Money plan to reduce headcounts to cut costs

This story was delivered to Business Insider Intelligence Banking subscribers earlier this morning.To get this story plus others to your inbox each day, hours before they’re published on Business Insider, click here.UK banks Lloyds and Virgin Money are planning to reduce their respective staffs to reduce costs, Reuters reports. Lloyds intends to eliminate 780 jobs, said…

This story was delivered to Business Insider Intelligence Banking subscribers earlier this morning.To get this story plus others to your inbox each day, hours before they’re published on Business Insider, click here.UK banks Lloyds and Virgin Money are planning to reduce their respective staffs to reduce costs, Reuters reports. Lloyds intends to eliminate 780 jobs, said union Unite, per Reuters, and Virgin said it would cut 500 jobs and close 52 branches. Lloyds employed 63,000 people last year — and has cut around 5,000 staff members in the last two years, according to regulatory filings cited by the outlet — and Virgin Money had 8,700 employees.

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Layoffs and branch closures across the UK have been surging amid what Reuters identifies as a period of tightening profit margins. Reports of headcount reductions are nothing new among UK banks: HSBC is cutting a staggering 35,000 as part of a major restructure, RBS was reported to be mulling thousands of cuts last month, and Barclays cut 3,000 jobs last year.Furthermore, a whopping 1,200
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What layoffs at SoftBank-funded startups like robot pizza-maker Zume say about the future of investments in AI firms

Artificial intelligence startups are attracting billions of dollars in outside investment, but the market could soon contract, according to UiPath’s AI head, PD Singh.One sign of this is the recent layoffs at SoftBank-backed companies like robotic pizza-maker Zume, he told Business Insider.SoftBank invested $300 million in Automation Anywhere, one of UiPath’s competitors in the buzzy…

Artificial intelligence startups are attracting billions of dollars in outside investment, but the market could soon contract, according to UiPath’s AI head, PD Singh.One sign of this is the recent layoffs at SoftBank-backed companies like robotic pizza-maker Zume, he told Business Insider.SoftBank invested $300 million in Automation Anywhere, one of UiPath’s competitors in the buzzy robotic process automation industry. Click here for more BI Prime stories.

BELLEVUE, WASHINGTON — Artificial intelligence startups earned an eye-popping $26.6 billion in investments in 2019, a sign of how much excitement there is around the advanced tech.But the funding could soon be drying up, or at least decreasing, according to PD Singh, head of AI products at UiPath. He cited layoffs at SoftBank-banked companies, like robotic pizza-maker Zume, as one sign that the investment environment is becoming tougher.”If you look at that progression, I think the money supply is going to contract,” he told Business Insider. “The
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Latin America roundup: Softbank adds $1B, Stori raises $10M and Grow Mobility puts on the brakes

Sophia Wood is a Venture Partner at Magma Partners. Sophia is also the co-founder of LatAm List, an English-language Latin American tech news source. More posts by this contributor After investing nearly $2 billion of its Innovation Fund in Latin America in 2019, SoftBank announced this month that it would add an additional $1 billion…

Sophia Wood is a Venture Partner at Magma Partners. Sophia is also the co-founder of LatAm List, an English-language Latin American tech news source.

More posts by this contributor

After investing nearly $2 billion of its Innovation Fund in Latin America in 2019, SoftBank announced this month that it would add an additional $1 billion into the fund to continue supporting tech startups across the region. While the Japanese investor faces the challenge of raising a second global fund after its Vision Fund, SoftBank is still investing heavily in Latin America. 
One of its early Latin American investments — and the first in Colombia — Ayenda Rooms, is performing particularly well, raising $8.7 million from Kaszek Ventures this month. Ayenda is the local version of Oyo Rooms, one of SoftBank’s biggest bets in India, which has looked to expand into Mexico despite a financial crunch last month. In fact, the fund recently came under scrutiny by The Wall Street Journal for funding similar delivery competitors Uber, Rappi and Didi, suggesting a conflict of interest. 
Most recently, SoftBank invested $125 million in Mexico’s lender, Alphacredit, and they reportedly plan to continue investing in that niche. The firm currently oversees more than 650 companies in Latin America, largely concentrated in Brazil, Argentina, Chile, Colombia and Mexico, and plans to invest $100-150 million in 17 firms and two VCs by the end of the year. To date, over 50% of SoftBank’s investments have been into Brazil, most of which exist in the fintech sector. 
Mexican neobank Stori raises $10 million Series A
In a self-fulfilling prophecy, Mexico’s neobank market became all the more competitive this month with the addition of a new player: Stori. Within the past few months, both TechCrunch and Business Insider pointed to Mexico’s neobank market as the one to watch in Latin America as startups like Albo, Klar and Nubank battle for market share. In February, digital bank Stori joined the conversation with a $10 million Series A from Bertelsmann Investments (BI) and Source Code Capital, along with an existing investor, Vision Plus Capital.
This round of funding, led by Chinese investors, is part of a growing trend of foreign funds waking up to the Latin American startup ecosystem, Asian VCs in particular. Tencent has invested in Brazil’s Nubank, whic
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Cannabis company Acreage just cut 40 jobs following a strategic review, and it’s the latest sign of a tough environment for cannabis sellers

Acreage Holdings eliminated 40 positions after a strategic review of the company’s spending.The company posted disappointing fourth-quarter earnings, amid a tough market for cannabis companies. An Acreage spokesperson told Business Insider that the company is also hiring for a number of open roles.Click here for more BI Prime stories. Multi-state cannabis company Acreage Holdings eliminated 40…

Acreage Holdings eliminated 40 positions after a strategic review of the company’s spending.The company posted disappointing fourth-quarter earnings, amid a tough market for cannabis companies. An Acreage spokesperson told Business Insider that the company is also hiring for a number of open roles.Click here for more BI Prime stories.

Multi-state cannabis company Acreage Holdings eliminated 40 positions earlier this week in a strategic reassessment of its spending, a source familiar with the matter said.The source added that the job cuts were across the organization and not concentrated in one specific team or department. Acreage Holdings has well over 250 employees, a company spokesperson said. Reports of the job cuts first surfaced on Twitter on Tuesday from @BettingBruiser, who posted a snippet of a memo circulated to Acreage employees. Business Insider then reviewed a full copy of the memo. “In releasing our corporate strategic objectives, I shared with you that we would be faced with many decisions that will be straightforward, while others may be very difficult,” the memo, signed by Acreage Chief Operating Officer Robert Daino reads. “Well, today we made some of those very difficult decisions as we notified a number of our colleagues across our organization that their employment has been eliminated as of today. These decisions, while difficult to communicate, were necessary.” ‘This is a tough day'”This is a tough day, but the executive team and I are counting on you to come together as an integrated team, laser-focused upon our objectives, and passionate about executing with precision,” the memo said.

After viewing the memo, Business Insider reached ou
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Gannett layoffs underway at combined new company

(AP Photo/Jacquelyn Martin, File) Layoffs continued Thursday at Gannett newspapers, which recently merged with GateHouse to form the nation’s largest newspaper chain. At publication time, a spreadsheet tracking the layoffs listed 17 newspapers affected, with 29 total newsroom personnel laid off. Forty additional people were eliminated from pressroom positions at the Springfield (Missouri) News-Leader, which…

(AP Photo/Jacquelyn Martin, File)

Layoffs continued Thursday at Gannett newspapers, which recently merged with GateHouse to form the nation’s largest newspaper chain.
At publication time, a spreadsheet tracking the layoffs listed 17 newspapers affected, with 29 total newsroom personnel laid off. Forty additional people were eliminated from pressroom positions at the Springfield (Missouri) News-Leader, which recently announced it was shutting down its press operations and printing instead in Columbia, Missouri.
The action had been forecast by several, including Gannett itself.
In an earnings call Thursday
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Husky CEO slams Ottawa for derailing projects with politics – Yahoo Canada Finance

Expansive aerial view of a pit mining project in Alberta’s Oilsands near Fort McMurray.Husky Energy’s (HSE.TO) chief executive officer says major energy projects are unlikely to move forward in Canada unless Ottawa does more to reduce political uncertainty and lengthy, expensive approval processes. Speaking on a conference call following the release of the Calgary-based integrated oil…

Expansive aerial view of a pit mining project in Alberta’s Oilsands near Fort McMurray.Husky Energy’s (HSE.TO) chief executive officer says major energy projects are unlikely to move forward in Canada unless Ottawa does more to reduce political uncertainty and lengthy, expensive approval processes. Speaking on a conference call following the release of the Calgary-based integrated oil producer’s latest financial results, Robert Peabody commented on the increasingly challenging environment for new energy infrastructure in Canada. “Governments should make every effort to ensure that companies in any industry don’t invest significant dollars in a project, and in project applications, only to be derailed by policy or political uncertainty at the very last moment,” he said on Thursday. “That certainly is a situation that has to be rectified if people want projects to move ahead.”His remarks come in the wake of Teck Resources’ (TECK-B.TO)(TECK) decision last Sunday to pull the plug on plans for a $20 billion oilsands mine in northern Alberta. The company said the full potential of Canada’s energy sector will not be realized until the government reconciles conflicting natural resource development and carbon reduction priorities.Teck began the regulatory process for the planned Frontier mine in March 2008. Last July, the Alberta Energy Regulator and the Canadian Environmental Assessment Agency recommended approval of the project. The federal government was expected to issue its deci
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