Feb 12, 2007 08:43 AM
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New York, 10:29 PM
Tue Feb 9
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Last week, we spread the rumor that MTV would be firing around 500 people this week. This morning, chairman and CEO Judy McGrath sent around an email—at 6:17 a.m., no less—announcing that in order to "explore new business models" because their "industry is at an inflection point" (??), only 250 people will be let go. The full email is after the jump; please read it and let us know if you're any clearer on what an 'inflection point' is afterwards.
——Original Message——- From: Office of Judy McGrath Sent: Mon 2/12/2007 6:17 AM Subject: Our OrganizationI want to let you know about some organizational changes we are making this week.
Over the last few years, we've changed the way we operate, to become a truly multiplatform content company. We are creative leaders who continue to invest in our television and digital future, and to keep winning in this revolutionary environment, we have to refine our business and organizational models as well.
With that as a backdrop, we will be fine-tuning how we operate in each of our groups - Music and Logo; Kids and Family; Entertainment; International; Sales and Strategic Services - in ways that will allow us to better share resources across our brands, and to invest in our linear channels and other key growth areas. In the U.S., we will build resources against some new businesses - our interactive properties and some of our new networks - and we will make reductions in others. Separately, International is also looking at new ways of working, and exploring new business models for television and online, which will be evaluated over the near term.
We've carefully reviewed all aspects of our business, and these moves are necessary to best align us for the future. Unfortunately, this means that approximately 250 U.S.-based staff employees will be leaving the company. Over the next few days, department heads will be meeting with those employees whose positions have been affected. The majority of this process will be completed by the end of the week.
The close-knit culture we have at MTV Networks makes this especially tough. Everyone here makes invaluable contributions to the company every single day, and it is painful to see hard-working, dedicated people leave us. Please know that we are committed to helping our colleagues who are leaving during this transition in every possible way.
Our industry is at an inflection point and many companies are going through the process of adapting their business models and organizations to the new realities.
Especially in this challenging time, I want to thank you for your hard work and continued committment to MTV Networks.
—Judy
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