Employees have been made redundant at Multi Channel Network (MCN), following the completion of the company's latest tech project.
AdNews understands that it could be as many as 30 redundancies and that staff impacted were both contractors and full-time employees.
News of the redundancies follows the announcement earlier this week that MCN's long-time boss Anthony Fitzgerald would be leaving the business, with chief sales and marketing officer Mark Frain stepping into the role.
A spokesperson from MCN tells AdNews: “MCN has been working with its stakeholders to identify opportunities to reshape its operating model to build ongoing success and create productivity efficiencies.
“This has resulted in MCN not renewing a small number of developer contracts, restructuring the project development team and streamlining operations within data departments.
“This means the business can work in more unified way and leverage our collective strengths. Regrettably these changes means some people have left the business.”
AdNews was aware of a potential shake-up within the business, with its majority owner News Corp later quashing rumours of his exit.
"There are no high level exits from MCN," a News Corp spokesperson told AdNews at the time.
Fitzgerald has opted to take some time off before deciding on any new future opportunities, News Corp said in a statement.
He described his departure from MCN as "bittersweet". See full story here.
Last week AdNews revealed that News Corp CFO Stacey Brown was the new chairperson at MCN.
In addition to Brown being across MCN activities, AdNews reported that News Corp's general manager of network strategy, Rachel Savio, who reports to News Corp MD of national sales Lou Barrett, was also working closer with MCN.
News Corp said at the time Savio is "sharing her sales insights and knowledge with MCN colleagues", while some sources commented that she may be looking at more of a wider review of the business. See full story here.
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