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MediaBuyerPlanner: CBS Radio has laid off about 115 staff members across its 179 stations, including the entire airstaff of WJMK Chicago’s oldies-formatted HD2 side channel, reports Billboard Radio Monitor. CBS won’t comment on the cuts, but a “reliable source” told the Monitor that the cuts include general managers Chad Brown of WCBS-FM New York and Trip Reeb of KROQ Los Angeles.
According to an internal memo from CBS Radio, CEO Joel Hollander explains that the layoffs are part of an initiative that will help the company manage costs as it moves to “reshape and restructure our radio group.”
It goes on to say that the layoffs are helping the company to sharpen its portfolio of properties “to make sure that each is part of our overall strategy.” He adds that he doesn’t anticipate additional plans along these lines.
CBS announced over a month ago that it would divest several stations in smaller markets – such as Memphis, Buffalo and Rochester – with lower revenue producing potential, according to Reuters.