Less than three months after combining the assets of CBS Corporation, Paramount Pictures and Viacom’s MTV Networks, the newly-formed ViacomCBS is planning two rounds of layoffs, according to multiple insider reports.
The trade publication Variety first reported on Wednesday that the layoffs could hit around 100 employees at ViacomCBS, with the first round expected as early as February 26, less than a week after the newly-combined company reports its first quarterly earnings.
A second set of layoffs is expected toward the end of March, Variety said, citing anonymous sources.
The publication said multiple departments were expected to be impacted, mainly in areas where positions from the former CBS and Viacom television brands overlap. Other properties, including Paramount’s film and TV distribution departments and CBS Interactive, are said to be safe from the impending layoffs.
An email sent to a ViacomCBS spokesperson was not returned as of late Wednesday evening.
The news comes as ViacomCBS is said to be preparing to combine the assets of several streaming services — including CBS All Access, Showtime and Pluto TV — into a new premium offering. Plans for the new streaming service are expected to be laid out on a conference call toward the end of the month.