As it turns out, iHeart’s no-paycations announced Tuesday are not what the company said they were.
Their bait and switch mentality is at work even in this layoff.
You might be surprised to learn that even sending Bob Pittman home penniless will not solve iHeart’s dire financial problems exacerbated by the coronavirus’ effect on the economy.
Employees have been misled on their forced unpaid vacations.
This begs the question is there any amount of savings that can save iHeart from itself?
The numbers iHeart is pouring over has the answer.
We did the math.
- iHeart Gaming of Media Monitors Exposed
- 1 Record Label Is Worth More Than the Radio Business
- Radio’s Sudden Rebranding
- The Number David Field Is Hiding
- The Cumulus Struggle to Remain Solvent
- Audacy Burning Through Cash at Record Pace
- Pittman & Bressler’s Fix for iHeart
- Epic Cumulus 1st Quarter Fail, Shakeup
- Audacy Planning More Management Layoffs
- Agent: Radio Talent Book Drops 50%