While today is Inauguration Day, it is also the first day of a major "restructuring" at Clear Channel Radio. Bain Capital purchased Clear Channel back in July for some $18 billion. After their investment, they must find a way to capitalize on their investment. With the economic downturn, advertising is often one of the first expenses that many companies cut...this the radio industry (and media as a whole) is hurting.
Today seven of my co workers were let go. As of now. I am safe. Which provides a sense of relief and gratitude. My heart aches for those that had to depart. I have been through other "mass firings" during my corporate life, but never during a recession. The thought was always that the world is full of GREAT jobs, they are out there for the picking.
So lift up your hearts, Obama create change, and pray for those that are less fortunate. I give thanks for all that I have in my life.
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2 comments:
I feel for you and all your co-workers! We just went through the same thing a couple weeks ago. I am glad that we are blessed and have jobs still!
I did my blog at scrapblog.com. Hope that helps!
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