US radio giant Clear Channel Communications has announced a new round of layoffs, with 590 workers in its radio division to be cut.
The new layoffs, which follow a round of 1,850 in January, will include employees in programming, engineering and customer service. The January layoffs were primarily in sales. Shows canceled due to the layoffs will be replaced by nationally syndicated shows.
Clear Channel also said that it has suspended matching contributions to employees retirement accounts, but would resume making contributions if the company is successful in reaching 90% of its internal cost saving targets.
