'This will be a major loss,' NPR CEO John Lansing wrote in a memo to staff Wednesday.
National Public Radio will reduce its workforce by 10 percent as it grapples with what CEO John Lansing says is a “sharp decline” in sponsorship revenue.
“Our financial outlook has darkened considerably over recent weeks,” Lansing wrote in a memo to staff Wednesday. “At a time when we are doing some of our most ambitious and essential work, the global economy remains uncertain. As a result, the ad industry has weakened and we are grappling with a sharp decline in our revenues from corporate sponsors. We had created a plan to address a $20M sponsorship revenue falloff for FY23 but we are now projecting at least a $30M shortfall.
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