MTV job cuts beginning to trickle down: after shuffling executives, Viacom slices deep into network's staff.VIACOM Inc. Chairman Sumner Redstone Sumner Murray Redstone (born Sumner Murray Rothstein on May 27 1923 in Boston, Massachusetts) is majority owner and Chairman of the Board of the National Amusements theater chain. Through National Amusements, he is majority owner of Midway Games, Viacom and CBS Corporation. and new Chief Executive Philippe Dauman have made it clear that reviving MTV Networks is a top priority. The key issues are flagging ad growth and digital rivals to the company's stable of cable TV brands. Since Viacom Chief Executive Tom Freston was ousted last fall, MTV MTV in full Music Television U.S. cable television network, established in 1980 to present videos of musicians and singers performing new rock music. MTV won a wide following among rock-music fans worldwide and greatly affected the popular-music business. has seen the exit of President and Chief Operating Officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. Michael Wolf, President of Affiliate Sales and Marketing Nicole Browning and Executive Vice President of Cable TV Distribution Peter Low. One of the survivors of the executive reshuffling has been MTV Networks Chief Executive Judy McGrath. In an e-mail to employees last week announcing that 250 jobs would be cut, McGrath acknowledged the challenges that Viacom's cable channels face. "Our industry is at an inflection point Inflection Point An event that changes the way we think and act. -Andy Grove, Founder of Intel. Notes: For example, the fall of the Berlin Wall was an inflection point in global politics and the commercialization of the Internet was an inflection point in technology. , and many companies are going through the process of adapting their business models and organizations to the new realities," she said. The cuts will be split between the New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of and Santa Monica offices, where more than 300 are employed. The layoffs will come across all the network's channels and departments in the U.S--that's 6 percent of Viacom's domestic workforce and 4 percent of the corporation's worldwide staff. |
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