The latest additon to the list of companies going for layoffs is the Clear Channel, which operates radio stations and outdoor advertising space. No one seems to be shielded from the effect of recession. It the Clear Channel and Clear Channel Company, which have decided to go for the layoff.
How many employees will be fired in the Clear Channel layoffs?
There will be around 1500 job cuts by the company. It will constitute 7% of the total employee strength.
How much savings can be achieved by Clear Channel layoffs?
There are no details available about the savings coming only from layoffs, but there are other measures that the company is taking. If all these measures are taken into consideration, then the total savings can be upto 400 million USD.
When will the Clear Channel layoffs happen?
It is learnt that the job cuts will be made by March 2009.
Any other news about Clear Channel layoffs
As per the news, Clear Channel, the largest U.S. company, by revenue, in both radio and outdoor advertising, was also implementing other cuts aimed at saving close to $400 million.
Let's hope that alternative jobs are available to the affected employees of Clear Channel Layoffs Job Cut