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Emmis slashes 25 radio positions, cuts salaries

November 3, 2008

A "turbulent economy" that's causing the radio industry to struggle has prompted Emmis Communications Corp. to lay off 4 percent of its workers in the sector.

The downsizing amounts to 29 full-time workers and 6 part-time employees, the Indianapolis company announced this morning.

Emmis also said it snipped 3 percent from salaries of radio and corporate-level workers earning more than $50,000.

Emmis informed workers of the measures late last week.

In August, Emmis cut 40 jobs in its magazine-publishing arm and trimmed salaries for the unit's remaining 348 workers by 2 percent.

Emmis reported a $1.2 million profit in its second quarter ended Aug. 31 after three straight quarterly losses.

The stock is trading at 65 cents per share, which is near an all-time low of 40 cents reached last month.

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