You hear it first:

MTV ax drops this afternoon. The people will be informed late this afternoon. This from my boss, who will be doing the axing in my dept. Hooray.

Later:

I meant axe, whatever. I have not been able to sleep.

Chin up, tipster. Remember, this strategic reorganization is for the good of all!

Update: OH IT BEGINS. Another tipster reports that the "ax" is being swung already, surmises that they're doing it in "splurts." Like love!

Earlier: MTV Layoffs Half As Bad As Expected (Still Bad Though)