Thanks to a shortage of advertising money, radio company Entercom has been forced to proceed with layoffs, pay cuts and furloughs of employees.
97.1 The Ticket is owned by Entercom, and two on-air personalities that metro-Detroiters are very familiar with were unfortunately part of the announced layoffs: Dennis Fithian and Ryan Wooley.
Both took to Twitter to announce the news:
Entercom CEO David Field released the following memo detailing the changes being made:
“Unfortunately, the severity of the situation necessitates us making significant cost reductions in order to cope with the realities at hand,” Field said in the memo. “Our nation is facing unprecedented disruption that has shut down countless businesses and entire industries, including many of our customers.
“This is having a very large impact on advertising revenues. We must take hard but necessary actions to ensure that we endure the crisis and emerge as a strong, healthy and competitive company.
“I am deeply saddened that we need to make these painful moves at this time, but they are necessary under the circumstances. We are doing everything in our power to minimize the number of layoffs through shared sacrifice across the organization.”
Among the 200 radio stations nationwide that Entercom owns includes 97.1 The Ticket, WOMC-FM (104.3), WYCD-FM (99.5), WDZH-FM (98.7) and WXYT-AM (1270).
– – Quote via Tony Paul of The Detroit New Link – –
