MediaWorks layoffs highlight tough year ahead for sector

MediaWorks layoffs highlight tough year ahead for sector
MediaWorks chief executive Cam Wallace. (Image: NZME)
Daniel Dunkley
MediaWorks yesterday announced it could cut up to 90 roles as it deals with the impact of a looming recession and falling advertising spending. The radio and outdoor advertising group is the first New Zealand media firm to take action ahead of what is expected to be a bruising year for the industry. In an email to staff, MediaWorks chief executive Cam Wallace acknowledged an advertising slowdown. He conceded the firm was “not immune to the impacts of the current economic factors [including] a likely recession this year, which wi...

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