“The impact of the COVID-19 epidemic continues to be felt across all sectors of the economy, something that could have a huge impact on companies as diverse as us,” said a Sincah spokesperson. “From local businesses and advertisers to distributors and partners, no part of our business ecosystem is fully protected from the impact of the global epidemic,” Laire told CNN Business.
“In response to this, we are working to reduce our workforce across the organization, including corporate headquarters, to ensure we are in the right position for future success,” added a Sinclair spokesperson.
A Sinclair spokesperson told CNN Business the company has 9,211 employees, a 5 percent reduction, meaning roughly 460 people will lose their jobs.
Employees were notified of the layoffs in a Wednesday memo sent by Chris Ripley, the company̵7;s president and chief executive officer.
“This decision was not taken lightly,” Ripley wrote. “In the past year, we have seen a number of colleagues take a step downturn to a step that we refrain from taking as we cut our budget. Others include capital budgets, thoughtful expenditures, and unnecessary expenses.
Ripley said those “proactive steps” meant that. “The reduction of staff will be significantly less” than when the company did not take such measures. He also said that “Affected employees will receive compensation and everyone will receive onsite service.”
However, Ripley added: “This is undoubtedly one of the toughest messages in my career.”
“But despite the challenges But I am still immensely proud of our team’s wisdom, ability and commitment to collect. “You have proven to be the best team in this business and this spirit in each of us and as a whole that I know will lead us.”