“The impact of the COVID-19 pandemic continues to be felt in all sectors of the economy, something that could have a profound impact on a company as diverse as ours,” a Sinclair spokesman told CNN Business in a statement. “From local companies and advertisers to distributors and partners, no component of our business ecosystem has been fully protected from the impact of the global pandemic.”
“In response to this, we are currently experiencing reductions in our entire workforce, including corporate headquarters, to ensure that we are well positioned for future success,” added a Sinclair spokesman.
Sinclair’s spokesman told CNN Business that the company employs 9,211 employees. A 5% reduction would mean that about 460 people will lose their jobs.
Employees were notified of the layoffs in a memo late on Wednesday sent by Chris Ripley, the company’s president and CEO.
“This decision was not taken lightly,” wrote Ripley. “Last year, we saw many of our peers make massive reductions, a move we avoided taking while cutting elsewhere, including capital budgets, discretionary spending and non-essential spending.”
Ripley said that these “proactive measures” mean that “the reduction in personnel will be significantly less” than if the company had not taken such measures. He also said that “the affected personnel will receive compensation and everyone will receive replacement services”.
However, Ripley added: “This is, without a doubt, one of the most difficult messages of my career.”
“But despite the challenge, I remain immensely proud of our team’s intellect, creativity and collective will,” wrote Ripley. “You have proven yourself to be the best team in the business. And it is this spirit, in each of us and collectively, that I know will take us forward.”