Viacom: MTV Firings Will Continue Until Morale Improves

The New York Post and PaidContent.org are reporting that 300-500 jobs will be cut at Viacom's (VIA) MTV Networks this week, with executive and senior vice president slots on the block.

"Sources said that since Tom Freston stepped down last summer as CEO, company morale has been low," the Post said. The stories make it sound like pressure is coming right from the top, with Viacom's (VIA) chairman, Sumner Redstone, frustrated "with the lagging performance of its most visible unit."

Disclaimer: I own shares of Viacom.