Media companies wound down the year with a spurt of layoffs, although the pace of job-cutting was lower than in 2002. That’s the conclusion of outplacement firm Challenger, Gray & Christmas, which carefully tracks layoffs.
The firm says media companies cut 9,663 jobs during 2003, down 18% from the 11,666 cut in 2002. And 2003 layoffs were a fraction of the 43,420 cut during the initial recession bloodbath in 2001. The tracking study’s media category includes broadcast, cable, radio, advertising, entertainment, and print but excludes Internet-related cuts.