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Audacy Lays Off 2% of Workforce
Audacy has laid off 2% of its employees, a company spokesperson confirmed. The radio company filed for Chapter 11 bankruptcy restructuring in January.
'” says an employee, requesting anonymity to avoid any severance-package conflicts, who was informed by a manager that their position had been “eliminated” on a Zoom call Wednesday (April 24). An Audacy spokesperson said in a statement that the “difficult but necessary decisions” will “best position our company for long-term growth.” The broadcast giant filed for Chapter 11 bankruptcy restructuring in January. Listeners are shifting away from old-school radio stations towards on-demand streaming, and Nielsen Media Research shows listenership has dropped from 89% of adult Americans in 2019 to 82% in 2022.
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