News Brief
Clear Channel Radio Axes Corporate Marketing
Apr 28, 2009, 7:12 PM
Struggling with falling advertising revenue and a huge debt from the deal to take it private last year, Clear Channel Communications is cutting costs across all its businesses. The latest round cuts Clear Channel Radio's entire corporate marketing department. The radio division also laid off a number of employees in other areas and stopped matching contributions to 401(k) funds Tuesday.
With the end of CCR's corporate marketing department, all staffers are leaving the company, including senior vice president of marketing Sanda Coyle and her top executives.
The company didn't specify how many employees were affected by the cutback. Overall, at the beginning of this year, Clear Channel Communications employed about 800 people in its corporate operations, out of a total 21,300 employees worldwide. The company laid off about 1,850 employees in January, bringing the total down to about 19,450, with 1,500 of the layoffs coming at the radio division.
The demise of the corporate marketing department was followed by a wider set of layoffs, including a number of local on-air personalities.--Erik Sass
Recent Marketing Daily Articles
-
Miller64 Partners With Former Pro Athletes May 20, 10:30 p.m.
Miller64 is launching "GO64," a summer-long initiative that will include local events, celebrity appearances, giveaways and ... -
Vespa Looks Back: 50 Years Of 50cc's May 20, 4:36 p.m.
Vespa has been tooling about since the ’40s, and sidelining as a movie star since the ... -
Skyy Launches 'Be Part Of The Art' May 20, 4:22 p.m.
To support the debut of its new Skyy Infusions Moscato Grape variety, Skyy Vodka has launched ... -
Industry Satisfaction Lagging, But Improving May 20, 4:02 p.m.
For the first time in years, the telecom industry is seeing improved customer satisfaction scores. But ... -
OMMA Social: Macy's Looks To Social For Connection May 20, 3:25 p.m.
Macy's is using social to connect with customers. That, said Jennifer Kasper, VP of digital media ... -
4 Types Of Marketing Cultures: How Fast Is Yours? May 20, 9:16 a.m.
Marketers everywhere may be talking about creating a fast-moving culture of innovation, but most CMOs will ... -
United Expands Loyalty Program To Businesses May 19, 10:13 p.m.
United Airlines is launching the MileagePlus Small Business Network, the first U.S. travel loyalty program that ... -
Champs Taps Westbrook For Ad Push May 17, 4:52 p.m.
When it comes to a spokesperson deal, if you’re a star athlete you don’t necessarily have ... -
Strategic Vision: Domestics' Strong Showing In Quality May 17, 4:47 p.m.
For several years there has been convergence in the automotive market. No, we're not speaking of ... -
Athenos Unleashes 'Cooking With Yiayia' Campaign May 17, 9:48 a.m.
Julia Child she isn’t, but Yiayia brings her own, trademark irascible appeal to a new series ...
Be the first to comment on "Clear Channel Radio Axes Corporate Marketing "
Leave a Comment