Something has happened that has forced iHeart back to the drawing board sooner than expected.
There are 150 target markets, over 850 stations and plans are being considered as to how to implement significant cost savings relying on the so-called “excellence centers” that they dreamed up for the first 1,000+ firings in January.
Other means of cost cutting are presumably also underway but reducing the workforce is the fastest way to see the savings on the bottom line.
This as their competitors are also suffering financially and taking notes on iHeart.
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