London, UK Offices Target Of MTV, Int’l Revamp
The London, UK offices of MTV Int’l has been restructured with 250 employees getting the axe — 8% of the workforce. MTV Networks Int’l, the music channel’s biggest market outside the U.S., will be merging some of its international functions with MTV Networks U.K. while other parts will relocate to the U.S.
In other developments, part of the company’s emerging markets Europe/Middle East group will move to Budapest and Warsaw. Sections of MTVNI’s Latin American operation will relocate from Miami to Buenos Aires. An MTV spokesman declined to say how much coin the company hoped to save in the restructuring, which will cut the number of jobs to 3,007 by June.
Thursday’s announcement had been expected, and follows the recent departure of several senior executives from MTV’s London offices. London staff at Viacom Brand Solutions Europe and VBS U.K. are not affected.