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More CITADEL firings?

B

bayoffundy

Via Inside Radio this afternoon:
New Citadel layoffs possible.
CEO Farid Suleman says the company made $20 million in cost cuts, including the layoff of sales, programming and administrative staffers. More could be on the way. Suleman tells investors they're "looking at even more opportunities" to trim the payroll. Citadel reports today its revenues fell 9% in second quarter.

Now, chatter locally that Legrett has to CUT $750,000 in expenses by tomorrow over the Buffalo, Syracuse, Binghamton, and Erie markets.
Curious, will he start with his girlfriend?
 
Cutting the Cheeses

Cutting sales is a sure way to increase revenue. I guess that there's not much sense in trying to sell radio if you've cut talent to the point where there is no product anyway. And, you won't need as much support staff if you cut all that talent and sales. You probably won't need as much accounting staff because there won't be as much money coming in to keep track of.

The fastest way to cut $750K is for LeGrett to cut himself, and make his market managers responsible for their own markets. Cut the market managers to $100K + incentives, and you wouldn't have to damage the product in order to cut expenses.

Farid just might "save" himself right out of business. Of course, his parachute is gold-edged platinum, so it won't affect his "bottom-line".
 
Makes me wonder how they are going to launch a new morning show for WEDG and supposedly change the format on WAQX in Syracuse while looking to allegedly cut $750k.

I wonder if O&A leaving Buffalo and Syracuse was tied to that figure? That would probably account for that move.
 
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