Multiple sources have confirmed to RadioInsight that a round of layoffs are imminent across Audacy’s local markets with the planned personnel cuts taking place as soon as Tuesday.
Audacy CEO David Field and CFO Rich Schmaeling indicated “cost reductions” were coming on their Q2 Earnings Call earlier this month with Field stating, “We are working to enact substantial sustainable savings through a number of measures to improve margins and profitability across the business. We believe we will be able to deliver meaningful cost reductions without hindering our strategic priorities and growth plans.” Schmaeling added, “We are working on a program to meaningfully reduce our expenses and we will provide further details about the scope and extent of those actions on our third quarter call.”
Audacy has already made some notable moves, according to the report. It laid off a morning show duo in Dallas last week and a longtime sports talker in Baltimore as well. So we will see if the knives come out for WFAN.
It’s hard to imagine there will be a desire to cut big names at a station that is rolling the way WFAN is right now. It’s complete ratings dominance from when Al Dukes and Jerry Recco sign on for their early morning show to whenever Craig Carton and Evan Roberts sign off for the night. But then again, moves like Joe Benigno suddenly having a desire to work part-time do make you wonder.
MORE ON ESNY:
• Kevin Durant reportedly ready to crank Nets drama to 11
• MLB postseason schedule is out, so let’s talk Mets, Yankees pitching plans
• Daniel Jones has little chance with these Giants receivers
• Derek Jeter, Alex Rodriguez have made peace. Will Yankees honor A-Rod next?
• YES Network to keep jumping through Paul O’Neill vaccination hoops
James Kratch can be reached at [email protected]