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MUMBAI: MTV Networks International announced the elimination
of 250 jobs at the company as part of their restructuring
process.
The Viacom-owned operation said that this is part of a move
to focus on high-growth businesses and markets and boost operating
margins.
The Viacom Brand Solutions (VBS) Europe and VBS UK divisions,
charged with developing targeted opportunities for advertisers
across the MTVNI portfolio; as well as the consumer products,
program sales and digital media units will maintain their
existing structures.
The 250 layoffs include the restructuring that took place
at MTV Networks Asia in Singapore at the end of last year.
In Latin America, further regionalization is being planned,
with some functions at the Miami headquarters relocating to
Buenos Aires. Ad sales and affiliate sales will remain in
Miami, while Buenos Aires will be home to production, programming
and creative strategy.
In Europe, meanwhile, a portion of the Emerging Markets/Middle
East group in London will relocate to Budapest, Hungary and
Warsaw. A new structure will also be put in place in London
to devote more support to revenue-generating areas and its biggest
business, MTV Networks U.K.
Some MTVNI functions will be merged with MTVN U.K., while
others will be restructured to its existing global MTV Networks
U.S. base.
Speaking about the changes MTVNI president Bob Bakish said
that "(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."
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