Viacom (VIAB) Stock Is Down in After-Hours Trading After Announcing Strategic Realignment

April 6, 2015 8:25 PM

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Viacom (VIAB) Stock Is Down in After-Hours Trading After Announcing Strategic Realignment

NEW YORK (TheStreet) -- Shares of Viacom (VIAB - Get Report) were falling 0.9% to $68 after-hours Monday after the entertainment company announced a new strategic realignment that includes a $785 million charge in the fiscal second quarter.

Viacom said the new strategic realignment will include job cuts and write-downs for underperforming programming that will be reflected in the pre-tax charge. The company did not say how many jobs it will cut as part of the realignment.

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