Clear Channel Cuts More Radio Jobs

Clear Channel Communications, the largest owner of full-power AM, FM, and shortwave radio stations, plans to undergo its second round of job cuts in 2009. In January, 1,850 jobs, mostly in the sales department, were cut in an effort to reduce operating costs. The company announced on Tuesday that it will cut 590 more jobs, including some on-air personalities.

The Associated Press reported that Clear Channel's parent company, CC Media Holdings, Inc., will also suspend its 401(k) match for current employees for the rest of the year. If the company meets 90 percent of its budget goals by the end of the year, the matches will be retroactively restored, an incentive that's not likely to inspire much company spirit.

The latest cuts affect jobs like engineering, accounting, and customer service, and represent 2.7 percent of the company's work force. The announcement withheld the names of the on-air personalities that will be let go, although both the Chicago Tribune and MinnPost.com bemoaned the release of local radio personalities in the Midwest.

In a statement issued by Clear Channel, the company said, "Like all media companies, Clear Channel Radio has to adjust its business to the realities of the current economy and advertising market. The changes we've made today complete a process begun in January."