Sinclair to lay off hundreds of employees, citing pandemic’s ‘profound impact’ on his business



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“The impact of the COVID-19 pandemic continues to be felt across all sectors of the economy, which can have a profound impact on a business as diverse as ours,” a spokesperson for Sinclair told CNN Business in a statement. “From local businesses and advertisers to distributors and partners, no part of our business ecosystem has been fully shielded from the impact of the global pandemic.”

“In response to this, we are currently undergoing company-wide reductions in our workforce, including head office, to ensure that we are well positioned for success going forward,” added Sinclair’s spokesperson.

A spokesperson for Sinclair told CNN Business that the company employs 9,211 people. A 5% reduction would mean that around 460 people would lose their jobs.

Employees were informed of the layoffs in a memo sent Wednesday night from Chris Ripley, the company’s president and CEO.

“This decision was not taken lightly,” Ripley wrote. “Over the past year, we have seen many of our peers make massive reductions, a step we have refrained from taking as we cut elsewhere, including in capital budgets, spending discretionary and non-essential expenses.

Ripley said these “proactive steps” meant “the reduction in staff will be significantly less” than if the company had not taken such steps. He also said that “affected staff will receive severance pay and all will be offered reclassification services.”

Nonetheless, Ripley added: “This is without a doubt one of the most difficult messages of my career.”

“But despite the challenge, I remain extremely proud of the intellect, resourcefulness and willpower of our team,” Ripley wrote. “You have proven that you are the best team in the business. And it is this spirit, in each of us and collectively, that I know that will carry us.”

Sinclair (SBGI), which operates 186 TV stations in 87 markets in the United States, reported in February a 7% drop in total revenue for the fourth quarter of 2020, compared to the fourth quarter of 2019.

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