Report: Telemundo Lays Off 5%
Cutting at least 85 jobs, as its station business feels the impact of dismal automotive ad spending.
By Michael Malone -- Broadcasting & Cable, 10/17/2008 6:52:00 AM
Telemundo is cutting at least 85 jobs, reports the LA Times, as its station business continues to feel the impact of dismal automotive ad spending. The layoffs represent about 5% of the Spanish-language network’s workforce.
Telemundo president Don Browne said the cuts were a response to a “challenged” broadcast business.
“Current market conditions require that we adapt to the economic environment,” said a statement released by the network. “As painful as these changes are, they will solidify Telemundo’s long term financial and competitive position as a leading provider of high quality content for Hispanics in the US and audiences around the world.”
Florida-based Telemundo is owned by NBC Universal. Almost exactly two years ago, NBC announced its massive “NBC 2.0” plan, which involved 700 job cuts, a renewed focus on digital media and the elimination of local news at several Telemundo stations. NBC at the time said “new emphasis will be placed on regionalized news programming with local content in some smaller markets” for the Telemundo outlets.
The moves toward NBC 2.0 were to be completed by the end of 2008.
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