BigChampagne's Ultimate Chart (a/o February 10th):
1. “What Doesn't Kill You (Stronger),” Kelly Clarkson
2. “Set Fire to the Rain,” Adele
3. “Turn Me On,” David Guetta
4. “Rack City,” TYGA
5. “Good Feeling,” Flo Rida
6. “Smooth Criminal (Glee Cast Version),” Glee Cast
7. “Young, Wild & Free,” Snoop Dogg & Wiz Khalifa
8. “Domino ,” Jessie J
9. “Sexy and I Know It,” LMFAO
10. “Ass Back Home ,” Gym Class Heroes
Clear Channel Communications is now shedding 1,850 employees, the latest reminder of a serious economic downturn. According to an official announcement, the layoff total accounts for 9 percent of the broader workforce, and traverses radio and billboard properties. "It seemed that we'd been pretty immune to the whole economic crisis up until now, but today was devastating," one affected radio staffer told Digital Music News.
The layoffs are being driven by softening advertising sales, particularly for radio. During the most recent quarter, radio-related sales slipped 7 percent, across a broad range of regions and categories. That is part of a broader advertising decline, one that could surpass 10 percent for US-based terrestrial stations in the US.
But the company offered some optimism within internal communications. "Clear Channel Radio has the resources, the will, and the plan to compete going forward," chief executive John Hogan wrote to staffers in an internal email. "In recessions, there is a flight to quality by advertisers, and Clear Channel Radio offers the highest quality by any measure."
The hopeful outlook offered little consolation to severed employees, most of whom face a bleak employment environment. One exiting employee soberly noted that both Hogan and Clear Channel Communications chief executive Mark Mays were "more straight-forward than their usual rose-tinted propaganda," perhaps a dose of realism affecting everyone.
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