Thursday, April 30, 2009

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Another round of layoffs at Clear Channel

The parent of radio-station owner Clear Channel Communications Inc. is laying off about 590 people nationwide, including about two dozen in Colorado.

The layoffs follow 1,850 job cuts nationwide by CC Media Holdings Inc. on Jan. 20. Locally, the latest layoffs affect mostly part-time workers. The company also said it would suspend its match of employee 401(k) retirement-plan contributions unless it reaches 90 percent of its year-end targets, the Wall Street Journal reported.


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