Jan 26, 2007

2006 Media Job Cuts Rise 88 Percent

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(New York) Job cuts among members of the US media rose 88 percent in 2006 from the previous year, highlighting a trend in downsizing over the last decade.

The media industry slashed 17,809 jobs last year, nearly double the increase from the 9,453 cuts in 2005, outplacement consultant firm Challenger Gray & Christmas said in a press release.

Media companies "will continue to make adjustments as their focus shifts from print to electronic," Challenger CEO John Challenger said. "Until they can figure out a way to make as much money from their online services as they are losing from the print side, it is going to be an uphill battle."

Newspaper publishers, broadcasters and other media firms have been cutting staff and revising their business plans as the number of Americans who turn to the Internet for news and information continues to grow.

3 comments:

The Screaming Nutcase said...

Considering that the Seattle Times has a staff of 1600 and a circulation of 230k, compared to, for example, the UK's Sun, at 500 staff for 3.5million subscribers, it's hardly surprising.

That and the introduction of competing newspapers all over the place.

kooz said...

Looks like maybe I should be looking for a new line of work (radio)

Hooda Thunkit said...

The FCC in it's (not so) infinite wisdom has already licensed so many stations for each available channel that they are stepping all over each other, actually providing less coverage because of it and because many, many stations get most of their content from fewer and fewer sources every day.

Radio is no longer the answer. . .