News
NPR Laying Off 10 Percent of Workforce Citing Drop in Ad Revenue
USA Loaded learnt that National Public Radio is laying off ten percent of its workforce, due mainly to a fall in ad revenue.
Deadline reports:
NPR To Lay Off About 10% Of Current Staff As Financial Outlook Has “Darkened Considerably”
NPR plans to lay off about 10% of its current staff due to the soft ad market and a drop in revenue from corporate sponsors, as well as uncertainties in the global economy overall.
In a memo to staff, NPR CEO John Lansing wrote that “our financial outlook has darkened considerably in recent weeks. At a time when we are doing some of our most ambitious and essential work, the global economy remains uncertain.”
NPR had announced a hiring freeze last year as part of a plan to cut costs amid a $20 million falloff in sponsorship revenue. But for fiscal year 2023, that shortfall is now projected to be at least $30 million, Lansing wrote.
“The cuts we have already made to our budget will not be enough,” Lansing wrote.
NPR’s David Folkenflik, who first reported on the layoffs, wrote that the layoffs impact at least 100 people. NPR also is cutting many of its open positions.
NPR is the latest media outlet to announce layoffs, with the Washington Post, Gannett, NBC News and CNN also trimming staffs recently.
“Unlike the challenges we faced during the worst of the pandemic, we project increasing costs and no sign of a quick revenue rebound,” Lansing wrote. “We must make adjustments to what we control, and that is our spending.”
Why haven't you seen any stories from NPR about the NY Post's Hunter Biden story? Read more in this week's newsletter➡️ https://t.co/CJesPgmGvo pic.twitter.com/jAi7PnpbZf
— NPR Public Editor (@NPRpubliceditor) October 22, 2020
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