Nexstar Media Group is planning on cutting roughly 2% of its total workforce.
The reductions are mainly coming from the local stations. Deadline said the cut equates to about 260 employees.
“Our broadcasting and sales divisions are streamlining their organizations to reduce our operating expenses and accelerate collaboration across the company,” said Nexstar. “While it is difficult to make these sorts of changes, they will impact less than 2% of our workforce and allow us to focus on areas of growth for our viewers, partners, and customers. We are committed to managing through this period of unprecedented change in the media industry so that Nexstar continues to thrive for years to come.”
On the company’s third-quarter earnings call, Nexstar president Mike Biard said the company is “acting to further streamline and simplify the entire organization.” Those efforts, he continued, “will accelerate innovation across the company and reduce operating expenses. This will enable Nexstar to focus on initiatives that more directly impact our viewers, partners and customers as we pursue priorities that represent our best long-term opportunities.”
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