Report: GCap Cuts Up To 160
July 22, 2008 at 5:36 AM (PT)
GCAP MEDIA has fired about 160 employees in advance of the U.K. radio company's pending takeover by GLOBAL RADIO, reports the GUARDIAN, and the cuts include Urban CHOICE FM/LONDON PD IVOR ETIENNE. The company was expected to cut less than 100 jobs in the redundancy wave, but the paper reports that the number may already be 160 out of a total of 1,500 jobs.
A GCAP spokesperson called the cuts, part of a cost-cutting program announced two weeks ago, a "prudent reaction to the economic climate."