Audacy Inc., a radio broadcaster reorganizing in US bankruptcy court, announced plans to cut a number of positions in its Pineapple Street podcast division, Bloomberg News reported. The reductions amount to 12 positions, or about 25% of the staff. A number of factors weighed on the company, including recent entertainment industry strikes, tighter marketing budgets and waning demand for limited-run, narrative series. “We are continuing to optimize our structure to align with the podcast market opportunity and set us up for continued growth,” the company said. “Unfortunately, that means reducing the size of some of our teams, and we have made the difficult decision to reduce a portion of our Pineapple staff.” Audacy, which counts New York’s 1010 WINS among its stations, filed for chapter 11 bankruptcy protection in Texas this month after reaching a pact with creditors that would hand them ownership in exchange for slashing $1.6 billion of debt.
