iHeartMedia, Beasley Extend Furloughs
• Citing a longer than expected lockdown of businesses and communities across the country due to the ongoing COVID-19 pandemic, iHeartMedia has formally extended the period for its furloughed employees, which began on April 4, by an additional 90 days, pushing the end date into early October.
In a memo to those employees, obtained by RAMP, iHeartMedia “Chief People Officer” Lorna Hagen explained that the COVID-19-related restrictions “have lasted far longer than anticipated and has had a significant impact on advertising revenue.” She added, “Although we as a company are beginning to return to the office in a very limited way, due to these business circumstances, we will not return to full office staffing levels for some time.”
Hagen continued, “As a result of these longer than expected impacts, a number of companies are extending employee furloughs — and unfortunately we will be doing so as well, extending your furlough period for another 90 days. We continue to expect that the furlough, which began on April 4, 2020, will be temporary. We know this is not what you hoped to hear, nor is it what we had hoped to do.”
Hagen says the furloughed employees will continue to receive medical, dental, and vision benefits through the extended furlough period. “Be assured that should the situation change and point to a speedier economic recovery or staffing need, we will notify you and bring you back as soon as we can,” Hagen said.
• We are told that Beasley Media Group has also extended its existing furloughs until the end of the year while also maintaining salary reductions and eliminating additional positions.
