Skip to main content

Home  »  US business newsUS Employment News   »   NPR to cut 100 employees due to $30 million budget shortfall

NPR to cut 100 employees due to $30 million budget shortfall

National Public Radio has revealed plans to cut 10 percent of jobs which will lead to 100 employees to losing their jobs.

The broadcaster forecasts a $30 million budget shortfall, which has led to the layoffs.

NPR is the latest news organization to make staff cuts as the advertising market slowdown affects the industry.

Read More: Facebook owner Meta gearing up for more job cuts

NPR CEO John Lansing said: “When we say we are eliminating filled positions, we are talking about our colleagues — people whose skills, spirit, and talents help make NPR what it is today. This will be a major loss.”

The media outlet has already saved $14 million in expenses.

employer

These include pausing most of its open job postings, canceling paid internships, and limiting non-essential travel.

Mr. Lansing added: “With approximately 65 percent of our budget supporting personnel costs, we will need to eliminate many of the vacant positions that have been frozen. 

Read More: McKinsey to cut 2,000 jobs in latest corporate layoffs

“We will also need to reduce filled positions by approximately 10 percent.”

Lansing said in his memo to staff the broadcaster was experiencing a “sharp decline” in revenue from corporate sponsors due to an uncertain economy.

He added he expected final decisions on which roles to remove by March 20.

The media and technology sectors have taken a hammering in recent months as marketers cut down on spending amid economic uncertainty.

Need Career Advice? Get employment skills advice at all levels of your career

Job cuts have been unchecked in the news sector, with media behemoths CNN, NBC News, MSNBC, Vox Media, Gannett, and others recently reducing their workforce.

Companies that have not laid off employees have made significant steps to minimize costs.

Layoffs have also extended throughout Silicon Valley, with significant cuts made by tech companies.

Yahoo, Spotify, Google, Meta, Amazon, and Microsoft have all announced job losses affecting thousands of employees.

Entertainment firms like Warner Bros. Discovery, Disney, and Paramount Global have shrunk their workforces.

Source: CNN

Follow us on YouTubeTwitterLinkedIn, and Facebook.


Most Read News