MTV cuts 250 jobs

Owner of the MTV, Nickelodeon and VH1 channels, MTV Networks, has announced the loss of 250 jobs.

Making up 8% of the workforce, the cuts come as the company merges some of its international functions with MTV Networks UK, while other parts of the operations will be relocated to the US.
The global restructure will see the total jobs in the company cut from 3,257 to 3,007 by June.

Today's announcement was expected and follows the recent departure of several senior executives from MTV’s London offices.

Part of the currently London-based Europe/Middle East group will relocate to Budapest, Hungary, and Warsaw, Poland. Sections its Latin America operation will also move from Miami to Buenos Aires.

MTV Networks international's president, Bob Bakish, said: "These changes will position us well for the next phase of our growth — increasing our operating margins through more efficient corporate structures, while also mobilizing our resources to build our multiplatform brand portfolios in priority markets and expand growing revenue areas such as ad sales, digital media and consumer products."

The cuts will not impact staff at Viacom Brand Solutions Europe or VBS UK.