Cumulus Employees Must Take 5-Day Unpaid Leave
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During a company-wide conference call on Wednesday, Cumulus Broadcasting and Cumulus Media Partners notified its employees, that all staffers, including management, will be required to take a five-day unpaid leave between May 1 and June 30. The move follows an industry-wide effort to reduce costs in a troubled economy.
Cumulus President/CEO Lew Dickey Jr. says that this is a difficult time the industry, as all other groups. So far, Clear Channel, Entravision, Journal Saga and Salem are among those that have implemented cost-cutting plans, including workforce reductions.
Participation by air talent under contract is voluntary for the leave, but Dickey says the vast majority have already agreed to take part.