Report : Viacom Announces Layoffs, Shakes Up Leadership At Nickelodeon

(RTTNews) - Viacom Inc. (VIAB, VIA) is shaking up the leadership at its Nickelodeon Group children's television network, the Wall Street Journal reported citing people familiar with the matter.

The report indicated that currently overseen by Cyma Zarghami, Viacom President and Chief Executive Robert Bakish is adding Sarah Levy as a high ranking company executive to be involved in operations and strategy for Nickelodeon, the media giant's most successful unit.

The move will expand the already large territory of Levy and diminishes the role of Zarghami. Levy is currently the executive in charge of operations and strategy for Viacom's other domestic and international networks including MTV, VH1 and Comedy Central. Besides Nickelodeon, Levy will take on a similar role at BET as well.

On Tuesday, the company laid off approximately 100 employees as part of an effort to save $100 million, the report said.