US radio broadcaster Audacy has laid off as many as 300 employees across the company in a cost-cutting initiative after it emerged from bankruptcy last year.
The layoffs were reported by multiple news outlets, citing sources. A source told Variety that about 200 employees are affected, while Digital Music News reported that up to 300 staff will be let go.
The layoffs, which reportedly started on Thursday (March 6), mark the company’s first significant restructuring move since completing Chapter 11 proceedings in September 2024.
During its financial restructuring, Audacy was able to equitize about $1.6 billion of funded debt, reducing it by about 80% from approximately $1.9 billion to $350 million, the company said.
The workforce reduction reportedly spans a number of markets and departments, affecting both on-air talent and behind-the-scenes staff across Audacy’s portfolio of more than 230 radio stations across 47 US markets.
Among those let go were prominent personalities from major market stations including WCBS-FM in New York, WMJX in Boston, and WOGL in Philadelphia.
At WHHL in St. Louis, Missouri, the entire staff was eliminated as the entire station prepares to abandon its hip-hop format, Radio Insight reported. The news outlet also reported, citing multiple sources, that the station will soon simulcast News/Talk 1120 KMOX, coinciding with the start of the 2025 MLB season later this month.
Separately, Barrett Media reported that J.R. Cruz, the morning show host at Classic Hits 103.7 KEYN Wichita, was the first to exit. However, Cruz said he left Audacy “due to the medical issues I am dealing with.”
The news outlet also reported that the Ponch and Nikki Show for 99.7 The Point in Kansas City have also been affected. Other staff affected by the layoffs reportedly included KNX News 97.1 in Los Angeles, where Program Director Alex Silverman and investigative reporter Charles Feldman, are leaving, and Sportsradio 610 Houston, where reporter and host Adam Spolane is departing, along with others.
“Audacy has made workforce reductions to ensure a strong and resilient future for the business. We are streamlining resources to stay competitive in a rapidly evolving media landscape and to best position Audacy to continue serving listeners and advertisers with excellence,” a representative from Audacy told Variety, while declining to confirm the number of staff affected.
The reported cuts come amid significant leadership changes at the company. Former CEO David Field stepped down in January after 27 years, and was succeeded on an interim basis by board member Kelli Turner, while Chief Financial Officer Rich Schmaeling resigned in February, with no immediate replacement announced.
Formerly known as Entercom Communications, Audacy filed for bankruptcy protection last year to address its debt burden. It came as the company grappled with declining advertising revenue in the traditional radio market.
The company emerged from bankruptcy in September under new ownership led by Soros Fund Management as the controlling shareholder.
The layoffs at Audacy come amid mounting challenges in the radio industry as ad spending shifts to digital platforms and streaming services capture growing portions of audio consumption.
Last year, US satellite radio service SiriusXM laid off roughly 3% of its staff, less than a year after reducing its headcount by 8%, affecting 475 roles.
Music ComeOn
