iHeartMedia extends staff furloughs another 90 days
In a new email to furloughed employees, the radio giant blames the extension on continued lockdowns that have "had a significant impact on advertising revenue."
The email goes on to state iHeartMedia will continue offering medical, dental and vision benefits to furloughed employees during the extension, and that the company will notify said employees “should the situation change and point to a speedier economic recovery or staffing need.”via email,"As a result of the longer than expected impact of COVID-19 a number of companies are extending employee furloughs – and unfortunately we are doing so as well.
In May 2019, iHeart lowered its debt from $16 billion to $6 billion as part of a Chapter 11 bankruptcy restructuring.
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