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Sinclair to lay off hundreds of employees, citing 'profound impact' pandemic has had on its business

March 4, 2021. Summarized by summa-bot.

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Citing the coronavirus pandemic, the Sinclair Broadcast Group said on Wednesday that it will reduce its workforce by approximately 5%, amounting to hundreds of layoffs across the company.

(CNN Business)Citing the coronavirus pandemic, the Sinclair Broadcast Group said on Wednesday that it will reduce its workforce by approximately 5%, amounting to hundreds of layoffs across the company.

"The impact of the COVID-19 pandemic continues to be felt across all sectors of the economy, something that can have a profound impact on a company as diversified as ours," a Sinclair spokesperson told CNN Business in a statement.

"From local businesses and advertisers to distributors and partners, no component of our business's ecosystem has been fully shielded from the impact of the global pandemic. "

"In response to this, we are currently undergoing enterprise-wide reductions across our workforce, including corporate headquarters, to ensure we are well-positioned for future success," the Sinclair spokesperson added.

The Sinclair spokesperson told CNN Business that the company employs 9,211 employees.

Employees were notified of the layoffs in a Wednesday evening memo sent from Chris Ripley, the company's president and chief executive officer.

"This decision was not made lightly," Ripley wrote.

Ripley said those "proactive steps" meant the "staff reduction will be significantly smaller" than if the company had not taken such measures.

"But despite the challenge, I remain immensely proud of the intellect, resourcefulness, and collecting will of our team," Ripley wrote.

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