Clear Channel to make cuts on Inauguration Day
January 17, 2009
In an attempt to reduce the amount of press it receives, Clear Channel will be slashing jobs in the radio, outdoor advertising and international divisions on Tuesday. Programming budgets and back-office consolidation is expected too, says the New York Post. The restructuring by the new owners is expected to cut $400 million in spending. This will move the company closer to a “national programming” model – fewer local staffers and more centralized jocks. An action similar to what the company was criticized over for having done in the past. This plan was in place by the new owners regardless of the economy, however the plans were pushed up because of it.
Clear Channel employs about 30,000 world wide.
