Univision Latest To Make Layoffs
Spanish-Language Giant Cuts Some 300 Employees
Mike Reynolds -- Multichannel News, 2/28/2009 3:07:00 AM
The faltering economy has taken its toll at Univision, which has cut approximately 300 employees.
The reduction represents about 7% or so of the company's 4,000-members staff, with the pink slips being issued to workers across its various holdings.
"Given the continued economic challenges facing the country and downward pressure this has caused on advertising-related businesses, Univision has been working aggressively to bring its cost structure in line with the current environment," said a Univision spokeswoman. "Like many in our industry and across most sectors, we are reducing our workforce."
Univision is not alone in making a restructuring move in the face of the economic downturn. NBCU, Viacom, The Walt Disney Co., Comcast and Time Warner Cable are among the companies that have been or will be forced to cut staffers.
The U.S. Spanish-language media leader would not identify where the cuts occurred, but indicated they had taken place across disciplines and vehicles, including its networks, stations, online and radio properties, as well as in the corporate office.
"While it is extremely difficult to lose valued employees," the spokeswoman said, "we are confident that the steps we are taking will make us more efficient in the short-term and better positioned for growth in the long-term."
Univision is not alone in making a restructuring move in the face of the economic downturn. NBCU, Viacom, The Walt Disney Co., Comcast and Time Warner Cable are among the companies that have been or will be forced to cut staffers.
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