Clear Channel to cut almost 600 jobs

April 29, 2009 – 9:29 pm – No Comment

Yesterday, Clear Channel Communications Inc. announced that it would be cutting 590 jobs from its current employee roster. The cuts include some on-air employees. This is on top of news that CC Media Holdings Inc, Clear Channel’s parent company, announced that employee 401(k) matching would also be suspended for the remainder of the year.

While specifics were not disclosed in full, Clear Channel did say that the job cuts would come from engineering, customer service, and accounting jobs.

This is the second wave of layoffs this year from Clear Channel, more than 1,800 positions in the radio division were eliminated in January. Even with the layoffs, the company still has a workforce of more than 22,000.

So it seems as though if you are an employee of Clear Channel right now at least you have a job, but its going to be cutting corners wherever it can to reduce costs. The reduction in costs is obviously at the expense of employees.