iHeartMedia Initiates Round Of Cuts Across The Country

[PTBoardOp94]

Do you know how many employees there were 20 years ago? What if I told you the number is about the same now as it was then.

I wouldn't believe you, because in 2002 Clear Channel had a large radio division, Clear Channel Outdoor and Clear Channel Entertainment.

Also, according to SEC regulatory filings (page 12 of the annual report), iHeart has 10,800 employees, of which about 9000 were full-time as of February. So please stop with the 18,000 employees bit.

 

[xkxrx]

With few people wanting to work as wait staff,and those who might being priced out of housing, that will be the future.

Robots are taking the vacant positions.

https://fox40.com/news/local-news/stockton-restaurant-adds-food-delivery-robot-amid-staff-shortage/

 

[Kelly A]

I wouldn't believe you, because in 2002 Clear Channel had a large radio division, Clear Channel Outdoor and Clear Channel Entertainment.

Also, according to SEC regulatory filings (page 12 of the annual report), iHeart has 10,800 employees, of which about 9000 were full-time as of February. So please stop with the 18,000 employees bit.

To be fair, I believe BigA was addressing particularly the iHeart radio division vs. Clear Channel radio division.

 

[davideduardo]

I wouldn't believe you, because in 2002 Clear Channel had a large radio division, Clear Channel Outdoor and Clear Channel Entertainment.

And to compare with today, you can only use the current staffing of iHeart which no longer has the entertainment or outdoor divisions, both of which were divested. So comparing Clear Channel from 2002 with iHeart today is impossible.

But if you add back those divisions, the figure is about the same as it was 20 years ago.

 

[Kelly A]

The order taking and payment are done in advance, so the service work is cut to bussing the tables after the meal and taking any extra orders or requests. That cuts the labor down by at least half.

Many people today, accustomed to online ordering and purchasing, don't like traditional restaurant service. They want to be left alone to enjoy the meal and don't want interruptions.

And a lot of that was accelerated during covid lock-downs.

 

[PTBoardOp94]

Turns out Clear Channel as a whole had 17,900 employees in 2002, per SEC filings at the time. However, only 13,600 were employed in the United States. There was no breakdown provided for how many worked in the various divisions, so as David said, there is no way to make a meaningful comparison then and now.

So modern iHeartMedia + Live Nation (8,200 full-time) + Clear Channel Outdoor (5900, two-thirds outside the US) is a much bigger employer than the integrated Clear Channel was back then.

 

[TheBigA]

Turns out Clear Channel as a whole had 17,900 employees in 2002, per SEC filings at the time.

In 2009, the company announced it was laying off 9% of it's employees, or 1850 people. That would make the employee base in 2009 as around 20,000. No specifics of where they worked, or what divisions. This was after the 2008 recession.

Clear Channel Plans to Trim 1,850 Jobs (Published 2009)

Hit with the advertising downturn, the company said it was eliminating about 9 percent of its employees, effective immediately.

www.nytimes.com

 

[gr8oldies]

In 2009, the company announced it was laying off 9% of it's employees, or 1850 people. That would make the employee base in 2009 as around 20,000. No specifics of where they worked, or what divisions. This was after the 2008 recession.

Clear Channel Plans to Trim 1,850 Jobs (Published 2009)

Hit with the advertising downturn, the company said it was eliminating about 9 percent of its employees, effective immediately.

www.nytimes.com

That was the big layoff on Inauguration Day, 2009 and a lot of stations were affected

 

[Kelly A]

So modern iHeartMedia + Live Nation (8,200 full-time) + Clear Channel Outdoor (5900, two-thirds outside the US) is a much bigger employer than the integrated Clear Channel was back then.

Clear Channel used to also have a TV division. They sold that off between 2004-08. All those employees went with the stations.