borg's Katz Media Staff Downsizing Today

[Force Commander]

From http://www.allaccess.com

ALL ACCESS has learned that CLEAR CHANNEL-owned KATZ MEDIA is completing a staff downsizing that affects roughly 122 people from all departments, but mostly in sales, which accounts for an overall reduction of 8.5% of the workforce.

While this is not good news, on a percentage-basis this downsizing is less than most others. Looking at some recent downsizings, here are some comparative numbers:

AMERICAN EXPRESS 10%
ASSOCIATED PRESS 10%
CITIGROUP 20%
GANNETT 10%
VIRGIN MEDIA 15%
YAHOO 10%

Now, on the heels of this dose of reality, later today look for KATZ MEDIA to make a more positive announcement that will focus on the company's new direction.

What's Next?

The cuts at KATZ MEDIA, which was a more straightforward process, were made ahead of the CLEAR CHANNEL GM meetings, which are currently going on in DALLAS. This week's meetings are focusing on CCR and PREMIERE RADIO NETWORKS, which will eventually yield a restructured operation.

Despite what you may have read elsewhere, there is nothing concrete coming from those DALLAS meetings so far.

[Ace Purple]

Despite what you may have read elsewhere, there is nothing concrete coming from those DALLAS meetings so far.

I interpreted this as a shot at Taylor on Radio Info, who reported early this morning the following:

"Are 1,000 people going to be cut? That was one story circulating last night."

If anyone can get me info on the "Grid" system that is rumored to be going into place at Clear Channel (using economic analysis to evaluate the relative value of each and every employee in the company), I'd be most appreciative.

As much as I don't like Clear Channel, there are some really good people who work for that company, and I fear for their futures.