Rather than a sudden round of cuts, much of this trimming happened slowly over a number of months. Altogether, it means about 400 positions have been eliminated, the largest such reduction since previous CEO Joel Hollander laid off 115 staffers in July 2006.
MediaPost also notes that other radio biggies are cutting back: Emmis Communications has laid off 46, and Clear Channel’s radio group has ordered a hiring freeze, and has cut research and ad spending through the rest of the quarter.
All of that makes sense — radio is a stagnant industry, and the ad market is uncertain at best. But we are a little stumped: If 400 workers represent 5% of CBS Radio’s workforce, that means CBS had previously employed some 8,000 people — or an average of 57 workers for each of its 140 stations. Even factoring in a large national corprorate HQ, sales staff, etc, that seems like an awfully high headcount. Are we missing something?
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