iHeartMedia is preparing to launch a new round of layoffs in the coming days. The company is planning to implement a new strategy with a “faster is better” approach.
What We Know: In an internal memo obtained by Barrett Media, the company shared that the changes would create layoffs. “Existing positions will be impacted as part of these changes,” the memo reads. Tom Poleman, Chief Programming Officer and President of iHeartMedia, and Ann Marie Licata, CEO of the iHeartMedia Multiplatform Group, said the company made the changes “with a great deal of thought” and does “not take this step lightly.”
What They Said: “Faster is better, and that’s the goal of our changes. With that in mind, we’ve built new tech capabilities over the last several years that have enabled us to both deepen our relationships with the listeners and communities who depend on us and improve the support we provide to our sellers. We’re now moving to scale this approach, implementing structural changes within our Programming organization and expanding responsibilities for key leaders.
“These moves are designed to:
- Expand and deepen our support for our communities, markets and sales teams
- Fully leverage our technology to deliver an even stronger product for listeners wherever they live
- Move faster and operate with greater precision across markets
- Position us not just to adapt to the future, but to lead it.” -Joint statement from Ann Marie Licata and Tom Poleman
What Remains Unclear: The size and scope of the layoffs remain unknown. In its memo, iHeartMedia executives shared that the new strategy will also create new roles. The company has not disclosed how many positions it plans to add.
What It Means: The cuts mark another in a long line of reductions by iHeartMedia. Because iHeartMedia has not disclosed the scope of the cuts, assessing the impact another round of layoffs will have on employee morale remains difficult.
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Garrett Searight is Barrett Media’s News Editor, which includes writing daily news stories, features, and opinion columns. He joined Barrett Media in 2022 after a decade leading several radio brands in several formats, as well as a 5-year stint working in local television. In addition to his work with Barrett Media, he is a radio and TV play-by-play broadcaster. Reach out to him at Garrett@BarrettMedia.com.
