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9% of Workforce Eliminated

By Published on .

LOS ANGELES (AdAge.com) -- The current troubling economic downturn has hit MTV Networks, as the cable network company has laid off 450 employees this week or 9% or its total workforce.

Tom Freston, chairman-CEO of MTV Networks, said the cuts affect all divisions and include senior- and junior-level positions.

MTV Network's separate Internet business will now be incorporated into each core division. Separate Nick at Nite and TV Land operations will now be combined into one organization; VH1 staff will be restructured; and TNN staff will be integrated into MTV operations.

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