Philadelphia-based Audacy Media this week has initiated a significant round of layoffs affecting its workforce across the United States.
Thw move came shortly after the company emerged from Chapter 11 bankruptcy in mid-2024, a process that had been aimed at restructuring its finances following years of debt accumulated from acquisitions, including the 2017 merger with CBS Radio. The layoffs, reported to impact between 250 and 300 employees, represent a substantial reduction in staff across various departments and markets, marking Audacy’s first large-scale workforce cut post-bankruptcy.
The layoffs span both local and national levels, affecting on-air talent, digital content teams, traffic, sales, and management personnel. Notable impacts include the cancellation of local programming, such as The Henry Lake Show on WCCO Newstalk 830-AM in Minneapolis, where evening host Henry Lake and co-host Chris Tubbs were let go as the station eliminated live and local content after 6 p.m., except for Minnesota Twins games.
Other markets hit include Boston, where Magic 106.7 (WMJX) morning host David O’Leary was cut; Philadelphia, with Big 98.1 (WOGL) afternoon host Trey Morgan departing; and Detroit, where 104.3 WOMC midday host Aricka McCauley was laid off. Nationally, the BetMGM Network, a sports betting-focused division, saw significant losses, with staff like Director of Digital Content Dan Karpuc and content producer Matthew Horner among those affected.
A company spokesperson stated that the reductions were part of an effort to “streamline resources to stay competitive” and position Audacy to “continue serving listeners and advertisers with excellence.”
This followed the departure of President and CEO David Field in January 2025 after 27 years, with Kelli Turner stepping in as interim President and CEO. The spokesperson emphasized that the layoffs were not a reflection of individual performance but a response to broader economic challenges facing the business, echoing sentiments from a Minneapolis memo that noted the “business is not where it needs to be.”
The scale of the layoffs, estimated at roughly 5% of Audacy’s workforce, aligns with earlier cost-cutting promises made by executives like CFO Rich Schmaeling during 2022 earnings calls, though the exact timing and extent crystallized in March 2025. Meanwhile, Audacy’s sports brands, such as Philadelphia’s 94 WIP and New York’s WFAN, appear to have been spared the deepest cuts, likely due to their strong revenue performance.
These layoffs follow a pattern of workforce reductions at Audacy, with previous rounds in 2020 during the COVID-19 pandemic and a smaller cut in April 2024 affecting less than 2% of staff.
The current reduction in force, however, stand out for their breadth, touching at least 12 markets including New York, Minneapolis, New Orleans, and other markets. The move has sparked concern about the future of local radio programming, with stations like WBBM Newsradio in Chicago losing over 60% of its digital staff and automating parts of its overnight broadcasts, signaling a potential pivot toward cost-saving automation.
The broader context includes Audacy’s financial struggles, with its stock price languishing at 68 cents per share in 2022 (pre-bankruptcy) and facing NYSE delisting warnings. Post-bankruptcy, the company aimed to strengthen its balance sheet, but the layoffs suggest ongoing pressure to reduce expenses amid a declining terrestrial radio market, challenged by digital media competition and shifting listener habits.
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