MTV to Dump 250 Jobs
Posted on February 13, 2007Mediweek reports that Viacom is planning to dump 250 jobs from MTV Networks.
It is a little less than earlier reports that put the number at around 500 but it is still a lot of jobs. The news comes around the same time as word that Viacom plans to allow blogs to embed MTV videos.Viacom is preparing to cut 250 jobs at its MTV Networks division, the latest action in what MTVN chairman and CEO Judy McGrath characterized as a "fine-tuning" of operations.
This morning, in a memo to MTVN staff, McGrath said that in order to compete in an accelerating digital universe, the company must "refine [its] business and organizational models as well."
The memo, which was leaked to the press almost immediately after it hit MTVN staffers' in-boxes at 6:17 a.m., confirmed that cuts will come across the five business units: Music and Logo; Kids and Family; Entertainment; International; and Sales and Strategic Services.
The cuts are expected to have a considerable impact among the cable networks, including the flagship channel, as well as Spike TV, Comedy Central and Nickelodeon. The dollars Viacom saves as a result of the staff reduction will be funneled into furthering MTVN's digital expansion, a category that has been a source of particular tumult.