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CC laying off 20% of workforce on 1/5?

I had heard 30 - 35% employee reduction (not just air personalties) in first quarter '09.
 
Hogan is also going to team up with Batman and fight crime as well. And the only person in the world who can stop such an unstoppable duo is Chuck Norris.
 
One CC employee tells me that he has heard this rumor from several sources, and that it's been kicking around for several weeks. They all agree that January 5th is the day to watch.
 
Don't know if the date is spot on, but heard from two good sources major cuts are coming. Sad.
 
I've heard the Bain folks have been making the rounds inspecting the properties and have seen "lotsa fat and overlap" in the sales side. Several boards here have been saying that too. And we all know if it's on a message board, it's true. But seriously...it's noting to fire airstaff and PDs and throw 2 or 3 station on one guy...but we need a Sales Mgr, Local Sales Mgr, and s Natl Sales Mgr, etc etc all makin 6 figures?
 
What if all UPPER management took a (gasp) 5% pay cut or did not get an end of year kiss? How many on air people would get to keep a job, insurance, etc. ? Oh, I'm sorry that would insane. Giving a darn about the people who work for you day after day.
 
If sales at CC are down in the 10-20% range, that's money that goes to the bottom line. Lose it, and a 10-20% cut in salaries does little to deal with the problem.
 
So, if sells are down...let's make the product sound even worse. I respectfully disagree. Don't lower your overhead buy killing off 10-20% of your workforce (mostly on air), instead an across the board pay cut for EVERYONE. Yes, some members of management might have to sell off their second or third home, or not have this years Mercedes, or not have a "business lunch" every day. If anyone cared about employees they could make it work. When you get down to it, they would rather slash jobs and ruin a life then to tighten their own belt. Certainly there is fat everywhere, why does it just seem that only non-management individuals take the bullet.
 
Big CC GM (only) meeting in Dallas Tues & Wed the 6th & 7th. Corporate walking papers reportedly to be handed to all GMs to enforce at that time. (Tom Taylor - TR-I 12/31 Date With Destiny In Dallas?)

Bain-Lee rumored to not be happy with "fat and overlap" of its just acquired CC properties. A bloodbath?
 
RadioStarOne...you hit it right on the head. Greed. The unfortunate part is those that will suffer the most had the least to do with it.
 
Greed? You have to be kidding me.

Since when is a business a non-profit?

It's not.

For those that complain about the state of the industry, For those that complain about "greed", For those that complain because they aren't as far along in their career as they want to be; do something about it.

You come off like whiney babies. Of course it's "greed". It's capitalism.

It's not the responsibility of a CEO to look out for every single little man. Its the responsibility of the CEO to turn as much of a profit as possible. And if that CEO can't do it, someone will.

Stop blaming your shortcomings on someone else. You either don't have the talent or work ethic to be successful.
 
Think we have folks who think radio should exist somewhere outside of supply and demand and maybe be a government jobs program
 
fredcantu said:
Radio may be a business but it's also a service and an art.
Those qualities are hard to quantify on a balance sheet.
Click to expand...

the service and art are on the dial in the 80s and low 90s. Public stations.

The rest is a business.
 
Greed in radio was when radio stations were selling at 20X cash flow and predicted equity growth was pegged at 35% annually. Neither of these things are true today.

When CBS voluntarily sells 3 100kw Denver FM radio stations for 19.5 million, well.... I'm not in a position to evaluate the sale, but the multiple must be pretty low.

That doesn't suggest greed. If Iwere to take a wild guess, I would think that CBS needs to raise cash quickly and the Denver sale met that need.
 
This time though it's not all CC's fault. The last 25 rounds of layoff were their greed imposed
by corporate mandates to screw everyone on the planet.

Seriously,

I have to take some exception to Dallasboyz post. Far to many good folks have been canned by CC's
chopping blocks. While I totally understand the necessity to stay within financial budgets, to many companies
don't look at the long term picture. Radio is one of the worst short term businesses I have seen. The "talented"
are fired "to save money" and those that replace them (live or not) don't pull the audience, ratings lower,
sales drop off...the cycle continues. Radio is at an all time low level of INTEREST from listeners because
it is so uninspiring and has lost it's heart and soul. WHY in the heck doesn't one company hire back a bunch
of the BEST air personalities and crank up the sound, quality and popularity of their stations in a couple
of markets and see if they can turn it around? Instead, every pencil pusher plays follow the leader and chops
and cuts based on all the wrong reasons. It's not just this industry. Quality still counts to the consumer.
Average is gone. Hence, radio that is average or less has is FINISHED. You can't slash your way past zero.

And you can give all you can give, 100% and be a star ... and to many times people who don't know who
these people they are firing are make decisions that ruin the very success of the local market.

Monday, I get the extreme pleasure of having to lay off four to five people. Think I am excited? No.
It has nothing to do with anything except budget contraints. But for me, I get to keep the rock stars
that will continue to take us to the dance despite a drop in sales. To have to cut those key people
would be the kiss of death. Will I miss the people that we have to let go? Mostly yes. Two know they're
just not motivated enough to care or fight the fight and work hard. The others are part time and have
other jobs, so they understand the situation and may return when things return to a bit more normal.
 
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