npr to cut 10% of workforce in one of its largest layoffs ever
In order to make up for a $30 million gap in its budget, global media outlet NPR has decided to lay off 10% of its workforce, about 100 employees, CEO John Lansing wrote in an email to the staff, adding the company’s financial outlook “has darkened considerably over recent weeks.”
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The budget shortfall in 2023, once estimated to be $20 million, had grown to a minimum of $30 million, the non-profit organization’s chief executive further mentioned, highlighting earlier moves to cut $14 million in expenses, including suspending internship programs, restricting non-essential travel, and even eliminating open positions, were no longer enough to prevent job cuts.
Lansing hopes to have a decision on which positions would be affected in the latest round of layoffs by the week of March 20, he wrote in the memo to the staff, underscoring that the decision would not “disproportionately impact people of colour or any other historically marginalised group.”
In the email, the CEO blamed the uncertain economy, weakened ad industry, and a sharp decline in revenues from corporate sponsors.
With the layoffs, the news organisation with a workforce of about 1,100 people has joined a long line of media companies that have recently cut several jobs amid dropping advertising revenue and the looming threat of economic recession. The Washington Post, Vox Media, CNN, NBC News, MSNBC, The Walt Disney Company, Paramount Global, BDG, Gannett, and Sports Illustrated have all let go of workers in recent months.
Tech companies that also heavily depend on advertising are resorting to layoffs as well. In the past few months alone, Amazon, Microsoft, Google, and Meta have announced over 50,000 job cuts combined.