MTV's parent company Viacom has announced plans for 850 layoffs – around 7% of the global workforce. The news was announced in an internal memo sent to staff, which also promised that senior level management will have salary increases suspended next year.Not exactly the pre-Christmas bonus MTV staffers were hoping for. The full text of the memo is after the jump.“Dear Colleagues:With less than a month until the close of 2008, our entire organization continues to do everything possible to anticipate and adapt to the unprecedented changes affecting all our businesses. We know it hasn't been easy and we couldn't be more proud or more appreciative of how you have risen to the challenge.Even in these tough economic times, Viacom has a strong hand to play. We have a broad stable of outstanding brands, diverse revenue streams and an impressive global footprint, backed up by exceptional financial strength. Added to that we have talented employees, extremely able leaders and a creative ingenuity that runs deep.Unfortunately, our advantages and best efforts can't completely protect Viacom from the very serious and broad-based challenges of this economic recession. Viacom's long-term health will depend on our shared commitment to adapt, to innovate and to [...]
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