Hundreds of jobs will be slashed at iHeart Media as the debt-ridden radio and podcast giant has been crushed by music streaming, The Post has learned.
The company headed by CEO Bob Pittman has cut less than 5% of a workforce of more than 10,000 employees, a source with knowledge said, amounting to hundreds of job losses as the company streamlines its business and eliminates redundancies.
Wendy Goldberg, an iHeart spokeswoman, confirmed the layoffs. She noted that the company has focused on expanding its Gen Z audience and that its broadcast radio audience has “more listeners than it did 10 years ago.”
“Although in a company of 10,000 people very few jobs have been affected, there have been some and we never take this step lightly no matter how few jobs it entails; every team member is important to us and has our respect and appreciation.”
iHeart chairman and CEO Bob Pittman is slashing under 5% of the company’s workforce, amounting to hundreds of layoffs. Getty Images
The firm began laying off employees Monday, and the layoffs will continue Tuesday, which one iHeart employee called “sneaky.”
