Clear Channel management departures preceded the layoffs
Here’s another example of management turnover signalling structural changes coming in a company. The WSJ reported on Saturday that Clear Channel, the largest radio and outdoor advertising company in the US, is planning to lay off 7% of its workforce, or 1500 people. It’s behind its competitors in doing a restructuring because of the 18 month battle to take the company private which finally failed in July 2008 – but clearly management knew major layoffs were coming and started leaving.
This chart shows the detectable management departures for just the last 6 months (we pick them up from the web even though they are not announced) and compares Clear Channel with its media competitors.
