MTV Networks International have confirmed plans to "streamline" its New York and London operations. In a memo to staff seen by the guys at Billboard, the broadcaster has admitted its restructure plans "may unfortunately lead to redundancies of some of our valued colleagues". Billboard reckons the cuts may, in fact, affect up to 150 of those valued colleagues.
Providing a rationale for those cuts, the memo said: "The continued expansion of our localised operations around the world and our evolution to diversified multi-brand, multimedia portfolios requires a shift in our corporate structure to optimally position the company for its next stage of growth".
Bosses will now liaise with possibly affected staff at the London HQ, in accordance with their obligations under UK employment law. Decisions are expected to be made by March.