CBS Radio Cuts Jobs

CBS Radio Cuts Jobs
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CBS Radio has cut a number of positions at its 179 stations. Reuters pegs the number at 115 positions being eliminated out of a total of 8,500.
The cuts were expected as part of a previously announced CBS plan to cut costs as the group faces more competition for listeners from iPods and satellite radio.
We reported in late May that CBS wanted to sell radio stations in 10 small markets and concentrate on holdings in larger markets. The company said that move was meant to "maximize performance" of the radio division.
In a memo to employees obtained by Reuters, CBS Radio Chairman and CEO Joel Hollander said, "While any number of such cutbacks is painful, today's move affects a small overall percentage of CBS Radio employees, and I don't anticipate additional plans along these lines. There is increased competition for our listener's attention, and we must deploy our resources wisely and aggressively if we are to succeed and grow."

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