Univision cuts 300 staffers
Work force reduced by 6%NEW YORK -- Spanish-language media firm Univision Communications has laid off 300 employees, or about 6% of its work force.
The company, which is facing debt maturities and has seen weaker advertising trends amid economic headwinds, cited the extended recession.
"Given the continued economic challenges facing the country and downward pressure this has caused on advertising-related businesses, Univision has been working aggressively to bring its cost structure in line with the current environment," a spokeswoman said. "Like many in our industry and across most sectors, we are reducing our work force."
The company didn't provide breakdowns of the layoffs by geography, function or division.
Privately-held Univision is owned by a consortium of private equity players: Madison Dearborn Partners, Providence Equity Partners, Texas Pacific Group, Thomas H. Lee Partners and Haim Saban.