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- iHaveNet.com: TV
After weeks of layoffs and corporate reorganization to make Viacom more efficient and to promote future growth in the face of a more competitive market, the company announced that it is taking a $785 million pre-tax charge in the second fiscal quarter of 2015.Viacom said the changes it has made will provide annual savings of about $350 million. The savings in fiscal 2015 will be approximately $175 million.
Video: "Viacom Blames Underperfoming TV Shows"