Can Clear Channel Sink Any Lower?

[Carmine5]

If this is true, it will be a new low for Clear Channel.

"It's reported that Clear Channel has scheduled a mass firing under cover of the Presidential Inauguration on January 20. Total post-firing body count is estimated to be 1,000."

http://www.audiographics.com/agd/011409-1.htm

C5

 

[DavidEduardo]

If this is true, it will be a new low for Clear Channel.

Now lower than the DOw or NASDAQ.

 

[TheBigA]

You realize this company has about 50,000 employees. So cutting a thousand is nothing compared to what the auto companies are doing.

 

[SirRoxalot]

I believe that the timing is more of an issue than the action. Selecting inauguration day, especially one steeped in the idea of "new hope", would be an incredibly crass move if it comes to pass.

If Bain, Lee, and the Mays family had ANY balls, they'd make the move on Friday and face the consequences like men. Either that, or suck it up for one more week and wait until next Friday.

 

[RadioStarOne]

your right they don't have any!

 

[TheBigA]

I believe that the timing is more of an issue than the action.

It's the Monday after a holiday. If you're one of those getting cut, the extra paid holiday weekend is a bonus.

 

[SirRoxalot]

It's the Monday after a holiday. If you're one of those getting cut, the extra paid holiday weekend is a bonus.

How many Clear Channel people have Monday off because it's a holiday? How many Clear Channel people are getting "bonus" pay for working Monday?

The timing on this stinks, period, and your excuses are pathetic.

 

[kd8hho]

You realize this company has about 50,000 employees. So cutting a thousand is nothing compared to what the auto companies are doing.

let me guess 3/4 of the 50K employees are empty suits/skirts

 

[Carmine5]

I believe that the timing is more of an issue than the action.

It's the Monday after a holiday. If you're one of those getting cut, the extra paid holiday weekend is a bonus.

CC employees do not get MLK day off. Try another apologist excuse.

C5

 

[gr8oldies]

They may or not get comp time for MLK day.

 

[pump]

Really....some of this stuff is just down right stupid. Somebody please get the true facts then talk about it! PLEASE!

 

[SqueakyWheel]

Something is going down, the GM's did not get together in Texas for BBQ. The timing of next Tuesday is both the "story" getting lost in inauguration coverage AND to put the job losses on the new democratic president's "tally".

 

[ruger22com]

This is simply business...pure and simple. 1,000 here...1,000 there...who cares? ever since the fcc allowed cluster ownership ratings no longer matter.

I really would not be surprised if clear channel went out, signed contracts with 4 or 5 morning shows (one for each format), and beamed them along with 6 "staff voices for the other shifts" to EVERY STATION THEY OWN. Can you imagine running 700 or so radio stations with a total air staff of under 10 people???? and you think it cannot happen?

 

[Carmine5]

They may or not get comp time for MLK day.

I just got off the phone with a good friend of mine who works for a CC cluster in Ohio and he told me that all staff will be working on MLK day. To quote him: "It's just another work day for us. No one gets it off."

C5

 

[DavidEduardo]

I just got off the phone with a good friend of mine who works for a CC cluster in Ohio and he told me that all staff will be working on MLK day. To quote him: "It's just another work day for us. No one gets it off."

A number of holidays are celebrated mostly by government employees. The private sector works. How many stores and gas stations will be closed for the holiday?

 

[SirRoxalot]

A number of holidays are celebrated mostly by government employees. The private sector works. How many stores and gas stations will be closed for the holiday?

In other words, there's no reason for Clear Channel to wait for Tuesday. In fact, it's a lot more common for firings to take place on Thursday or Friday. If they make the move on Tuesday, it's simply because they're trying to bury the story, and thumb their nose at Obama.

I find it hard to believe that Clear Channel would be that stupid. It's not like it will be overlooked by Obama's people. It might not be smart to tick off the new sheriff in town, especially when there's considerable discussion about "localism" already in Congress.

 

[oaktree]

Payday in many CC clusters is ... the 20th (and the 5th.)

Also, the Republican administration was very very good for Clear Channel lobbyists. The timing, sadly, of bad ... but it would make sense, but, Tuesday isn't going to get here any faster than it is, so, try to relax a little. If, and that's a big if, it happens then ... you know now. If it doesn't happen Tuesday, it could be Friday, the last day of the month ... who knows? Speculation doesn't make it happen or not happen.

Mark Mays makes it happen and that answer is found on the little flash drive GM's were given last week in Dallas.

My personal guess is that the cuts involve more sales departments than talent, but if revenues for certain "fat" dayparts are down, it could be the loss of support teams and in some cases ... talent. Overall, sales leads to what revenue is being produced in all individual dayparts and that's where the largest cuts will be.

 

[gr8oldies]

I'll admit to having a cynical side, but the idea that CC is going to drop the layoff bomb on the day the Messiah is inaugurated to keep it off the front page is stretching a bit.

If it happened on the slowest news day in the world, the layoffs still wouldn't be on the front page. They might be a small paragraph in the buisness section, if that. We, R&R, All Access, etc. certainly will be talking about it.

As far as doing the layoffs in order to "give the finger" to Obama, me thinks we're reading way more into it than neccesary.

 

[djj]

I really would not be surprised if clear channel went out, signed contracts with 4 or 5 morning shows (one for each format), and beamed them along with 6 "staff voices for the other shifts" to EVERY STATION THEY OWN. Can you imagine running 700 or so radio stations with a total air staff of under 10 people???? and you think it cannot happen?

After reading this astute post, why do I think of "The Ghost Of Christmas
Future" segment on that WKRP In Cincinnati episode, "Bah, Humbug,"
circa 1980?

--jay

 

[DavidEduardo]

In other words, there's no reason for Clear Channel to wait for Tuesday. In fact, it's a lot more common for firings to take place on Thursday or Friday. If they make the move on Tuesday, it's simply because they're trying to bury the story, and thumb their nose at Obama.

If this is even true...

There are probably a lot of reasons for the day... all related to the timing of the HR actions necessary to complete the plans given each GM in Dallas last week. In fact, it is a "by the same time next week" thing by appearances.

I find it hard to believe that Clear Channel would be that stupid. It's not like it will be overlooked by Obama's people.

They will be oblivious to what amounts to, if the rumors are even true, one person per station at Clears rougly 850 stations. Compare that with the 600,000 and more per month that are being laid off or fired in the total US economy.

The Circuit City closing, announced today, is over 30,000 people at nearly 600 stores, plus the additional chain reaction among their suppliers and vendors. That closing alone may mean 60,000 jobs in total. The Clear Channel thing, if it is true, is tiny and insignificant by comparison.

It might not be smart to tick off the new sheriff in town, especially when there's considerable discussion about "localism" already in Congress.

What do cutbacks to preserve an operation have to do with localism? The government, last I checked, can not make people lose money or go bankrupt.