What started as a trickle of high-profile editorial firings at The Hollywood Reporter last week will expand to a flood of 4,000 layoffs at Netherlands-based VNU, company CEO David Calhoun indicated Monday. The massive firings are intended to reduce costs by 10 percent (the 4,000 layoffs represent about 10 percent of VNU employees). Many of the personnel cuts will affect employees of Nielsen Media Research, which issues the daily ratings reports of U.S. TV stations. However, the company said, savings from the cuts will be used to develop new initiatives at Nielsen.
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