BRITAIN’S biggest commercial radio group has insisted big-name DJs such as Chris Moyles, Johnny Vaughan and Jamie Theakston won’t be axed, despite mass cuts.
Global, which runs Capital, Radio X, Heart, Smooth, Classic FM and LBC, has emailed all staff to say jobs losses are on the cards.
It follows a fall in advertising and the £220million acquisition of two firms specialising in outdoor billboards and electronic screens.
Global said the group had to make further cost savings following “ongoing revenue challenges”.
The Sun understands that presenters and DJs haven’t all been told whether their jobs are safe or not.
But a Global spokesperson insisted top talent would not be affected by the cuts, saying: “Like many businesses, due to the unprecedented circumstances and challenges precipitated by the coronavirus pandemic, we have taken the difficult decision to restructure some parts of our business.
“This will, sadly, include some people leaving the company although none of our presenters are affected. These decisions are never easy.”
A source told The Sun “Everyone’s worried, from the top down.
“All staff have been told they are at risk.
“Ad revenue is down and also there’s no money coming in from the billboard firms that cost so much cash to buy in 2018.
“There’s a lot of money going out in wages and not so much coming through the doors in revenue. It’s simple economics.”
Former Radio 1 star Moyles gets around £1.5million for his breakfast show on indie station Radio X.
Former Big Breakfast favourite Johnny picks up £1million for the drive-time slot.
Theakston rakes in £1.2million for his morning show on Heart.
Staff most at risk will be earmarked this month and those facing the sack will be told in August, our source said.
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