Western chain Vista Radio is the latest broadcaster to announce layoffs resulting from a downturn in advertising income and a gloomy near-term forecast for economic recovery. The following is a letter announcing cuts sent out by Vista COO Tery Coles.
The major news of the day is the current world economic crisis. It is the most serious since the depression of the 1930’s and no one is able to escape its effects.
At Vista Radio Ltd., we have had to review and adjust our budgets to recognize the new economic realities. Unfortunately, we have had to make some very difficult decisions.
Every possible discretionary expenditure has been cut. Capital programs have been put on hold. Vacant positions will not be filled. We have also had to reduce our workforce by less than 3%, and in a few instances we have reduced full-time to part-time positions. These measures have been necessary to protect as many employees as possible.
The economic difficulties will not last forever, however in the meantime we are asking every Vista employee to be mindful of reducing or eliminating any discretionary expenses they are responsible for or can identify.
By working together we can keep Vista strong and poised for the future. Thank you for your understanding and your commitment to Vista Radio Ltd.
Terry Coles
President & COO
Vista Radio operates 22 radio stations in 17 communities across British Columbia, Alberta and the Northwest Territories and employs 160 full and part-time employees. The company was founded in ’04 by Paul Mann, Jason Mann, Margot Micallef, Bryan Edwards, and Barb Fairclough with a vision of creating a strong regional broadcast voice in Western Canada.
