Last week, while the big story on President Obama’s inauguration took place, another big story flew under the radar.
Clear Channel, the largest radio broadcaster in America, laid off over 1800 of its workers or 9% percent of its workforce nationwide.
The cuts came from Clear Channel’s radio, outdoor advertising and corporate offices, however, the radio division was hit the hardest.
In cities across the country, disc jockeys were replaced with automated national programming.
According to a memo circulated prior to the layoffs, Clear Channel President & CEO Mark Mays said, We have thought carefully and at some length about the steps we need to take as a company to succeed during this unprecedented downturn.
One suggestion that probably should have been thrown out by Clear Channel board members should have been, “How about cutting our hefty salaries to lighten the load on our staff?”
You won’t see that happening anytime soon!