MTV Networks to send 250 staff members packing

This week MTV Networks is expected to be laying off over 250 people this week according to The Hollywood Report. The memo is stated to have been issued by Judy McGrath a chairman and CEO of the Viacom-owned division.

This week MTV Networks is expected to be laying off over 250 people this week according to The Hollywood Report. The memo is stated to have been issued by Judy McGrath a chairman and CEO of the Viacom-owned division.

Many of the cuts are looking to be starting on Tuesday the report states and some senior executives might be included. The cut will be made all week which will claim approximately 6% of MTV Network’s global work force.

The departments or properties that will be affected were not identified by the chairman, but was said to have hinted that the company is looking to grow its new-media assets.

“Our industry is at an inflection point, and many companies are going through the process of adapting their business models and organizations to the new realities,” McGrath was stated to have said in the memo.

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