OK, I'm exaggerating slightly, but following the rumours that started circulating yesterday that 500 jobs were about to be axed globally at the music broadcaster, the first high levels cut were made yesterday.
Eric Sherman, GM of VH1 Classic in the US, is out, as are several of his team. A number of MTV2 US employees are also out - although there seems to be differences in opinion as to whether than includes the MTV2 US GM David Cohn.
In the internal memo confirming the first US redundancies, MTV boss Judy McGrath confirmed 250 jobs would go in North America, which, given that reports yesterday suggested 500 would go globally, presumably means an additional 250 will be lost outside the US. How the cuts will affect UK based MTV operations remains to be seen.