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Pastimes : Layoff Totals for US Companies
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From: peppe511/20/2009 9:13:11 AM
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1500...Clear Channel Communications Inc. plans to lay off 7 percent of its work force on Jan. 20 in an effort to save $400 million, according to The Wall Street Journal .

The company, which was acquired this summer by Boston-based Bain Capital and Thomas H. Lee Partners, employs 20,000 people across the United States, will layoff 1,500 people, mostly in advertising sales, and will also implement other cost-cutting measures, including replacing some locally produced radio shows with syndicated content, The Journal reported.

Clear Channel such Boston-area stations as JAM'N 94.5 (WJMN-FM) and KISS 108 (WXKS-FM) as well as two AM-frequency stations (WKOX-AM) and (WXKS-AM).

Bain and T.H. Lee acquired the company for $17.9 billion in June.
bizjournals.com
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