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MTV to lay off 50 staff
MTV Networks could be set to lay off around 50 workers as the company restructures itself in the face of the economic downturn.
The company said the redundancies, which will include employees at its MTV and VH1 networks, were part of a cost-cutting drive.
The move comes a week after news that MTV Networks' president of entertainment Brian Graden is to leave the role he has held for five years when his contract expires at the end of this year.
It also follows an announcement in December that MTV's parent, Viacom, would be trimming 7% of its workforce, around 850 jobs. At the time Viacom CEO Philippe Dauman said the step was necessary to try to tackle "unprecedented changes" sweeping across the company and the wider economy.
MTV has seen a 20% decline in ratings in April and May among young adults, according to reports.
No further cuts are expected and the downsizing does not affect MTV Networks' entertainment group or its kids and family group.
Martin Buxton
24 Jun 2009
© C21 Media 2009
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