While Twitter explodes with “OMG INAUGURAL” posts, Clear Channel radio employees are waiting for the axe to fall; the company’s new owners plan to shed seven percent of the workforce today. The timing apparently was no coincidence, as the New York Post reported that the company is trying to “slip in the layoffs while the press is preoccupied with Inauguration Day festivities.” I suppose there’s an element to working at Clear Channel in which any sort of dastardly act by management would be no surprise, but something about this particular machination seems particularly gross. [FMQB]
A Change (Of Jobs) Is Gonna Come For Some Clear Channel Employees
January 20th, 2009 // 6 Comments
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My little area of CC has been waiting for two months for this to happen. (The inauguration day rumor started the week before Xmas.) 11 folks gone so far today. I’m amazed I made it through.
And trust me, they’ve done worse.
@Figgsrock: Ugh, I am so sorry.
Aren’t there only about 100 employees to begin with?
My friend Aaron just got axed today. Hopefully the severance is good, because he’s got a new baby to feed.
@Maura Johnston:
Thanks Maura. It’s been kind of weird getting all the sympathy emails and Facebook comments today when everyone else is, to quote the Temptations, on Cloud 9.
As for severance, when CC went private last year they sent out a memo breaking down the packages if there were layoffs within the first year post-going private:
“Less than 6 months–1 month of Base pay
At least 6 months but less than one year–3 months of Base pay
One to less than three years–6 months of Base pay
Three years or more–9 months of Base pay”
From what I gather today, at CC radio stations it’s the folks with seniority getting the ax, while in my division it was just the opposite, which saves them some bucks I guess.
I know it absolutely sucks to lose a job, but that’s a stunningly good severance. The most common formula is a week for every year of service. .. and the next common is two weeks for every year.