Emmis Radio Cuts Staff, Some Salaries
October 31, 2008 at 3:50 PM (PT)
EMMIS RADIO sent out a press release confirming that it has made groupwide cuts of 4% to combat the tough economic times. Spokesperson KATE SNEDEKER told ALL ACCESS that the 4% cut was confined to "EMMIS RADIO employees, not total EMMIS employees."
Like most of our peers, EMMIS is facing the challenges of a struggling media sector and a turbulent economy," the statement said. "YESTERDAY (THURSDAY), EMMIS RADIO instituted a series of steps to better position it for success. Those steps included a 4% workforce reduction, which included 29 full-time and six part-time employees of EMMIS RADIO. Notified employees received generous severance packages and other support. In addition, the Company announced a three percent salary reduction for EMMIS RADIO and Corporate employees earning more than $50,000."