MTV Networks lay off 75

Chris Forrester

New York-based MTV Networks is cutting about 75 jobs, blaming the economic downturn. The cuts are said to be mostly "mid-level executives" in the company's development department, and scheduling.

"We have been taking a look at our business and how to position ourselves for future growth. It's pretty much the economy," said an MTV spokeswoman, adding that the cuts accounted for less than 1% of MTV Networks' workforce.