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Rumored for weeks, Clear Channel, the nation’s largest radio group, officially announced Tuesday (Jan. 20) the grim news, eliminating 1,850 positions representing 9 percent of its workforce. The news was delivered by Mark Mays, CEO of Clear Channel, in a company-wide e-mail.
The cuts were made across the company, in corporate, outdoor and radio.
“We are facing an unprecedented time of distress in the general economy, and the ripple effects have hit some of our largest customers hard,” said Mays.
Clear Channel’s new owners Bain Capital Partners and Thomas H.
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