The cuts reportedly affect dozens of jobs and come two months after an earlier round of layoffs at the radio giant.
BURBANK, CA - MAY 16: iHeartRadio logo is seen during the Coldplay iHeartRadio Album Release Party at the iHeartRadio Theater Los Angeles on May 16, 2014 in Burbank, California. Streaming Live on Yahoo Screen and Clear Channel stations across the country. (Photo by Jason Kempin/Getty Images for Clear Channel)
Jason Kempin
iHeartMedia is eliminating dozens of on-air jobs and other positions as part of a restructuring of its programming division that will leverage tech and up-and-coming talent, according to an internal memo viewed Thursday (June 25) by Billboard and various media reports.
Since emerging from bankruptcy in 2019, iHeartMedia has faced lingering financial challenges stemming from changes in listener behavior and the ad market. Despite its dominant ownership of Top 40 radio and fast-growing audio and video podcast distribution business, the company said in May it anticipated an additional $50 million in cost savings this year. The layoffs rolled out this week follow cuts the company made in April to management and sales jobs, according to a report at Barrett Media.
