Layoffs are underway at Univision, as well as cuts in weekend news programming, part of a company restructuring CEO Vince Sadusky announced in a dire staff memo.
In it, Sadusky states a “significant drop in advertising” caused by the coronvirus-induced recession has impacted the company and requires “difficult cost containment actions in order to protect the health of our business moving forward during these unprecedented times.”
Those actions include company-wide layoffs, furloughs and executive pay cuts. Not announced in the April 21 email: the elimination of local newscasts.
Inside sources have confirmed the company has pulled the plug on Saturday newscasts at Univision stations in New York, Miami, Los Angeles, Houston, Dallas, Chicago, San Antonio, Austin, Arizona, the San Francisco Bay Area, Sacramento and Fresno.
Those newscasts will be replaced by existing local community affairs shows or network programming, but will be ready to interrupt programming to report breaking news.
For the time being, the stations will continue to broadcast Sunday newscasts.
According to a source, some on-air talent at the NY station have been offered buyouts with a Monday, April 27 deadline.
Names of those who lost their jobs – from behind and in front of the cameras – are trickling in. Among them, some who have worked at the company for two decades, like Univision 23’s reporter/anchor Sonia Parissos and Washington, D.C. affiliate correspondent Fernando Pizarro.
Univision’s sports division will be hard hit, since all sporting events have been canceled until further notice.
In his memo, Sadusky wrote the company would be implementing a temporary furlough program that would require some employees to take unpaid time off from one to four weeks. “Others will be furloughed until operations normalize.”
You can read Sadusky’s entire email on Forbes.