Multi Channel Network (MCN) has confirmed it has shed some of its workforce and not renewed a few of its developer contracts as part of an operational restructure.
An MCN spokesperson told B&T that the company has been working with 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,” the spokesperson said.
“This means the business can work in more unified way and leverage our collective strengths. Regrettably, these changes mean some people have left the business.”
It’s unclear exactly how many MCN employees have been made redundant.
The redundancy news out of MCN comes shortly after it chose chief sales and marketing officer Mark Frain to replace Anthony Fitzgerald as CEO.
It also comes after MCN launched its programmatic TV trading hub earlier this month.