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Sinclair resigns hundreds of employees with reference to ‘deep impact’ pandemic has had on his company

“The impact of the COVID-19 pandemic continues to be felt in all sectors of the economy, something that could have a profound impact on a company as diversified as ours,” a Sinclair spokesman told CNN Business in a statement. “From local businesses and advertisers to distributors and partners, no component of our business ecosystem has been fully protected from the effects of the global pandemic.”

“In response to this, we are currently reviewing company cuts across our workforce, including headquarters, to ensure we are well positioned for future success,” the Sinclair spokesman added.

A Sinclair spokesman told CNN Business that the company employs 9,21

1 people. A 5% reduction would mean that around 460 people would lose their jobs.

Employees were notified of the layoffs in a note Wednesday night sent from Chris Ripley, the company’s president and CEO.

“This decision was not taken lightly,” Ripley wrote. “Over the past year, we saw many of our peers make cuts en masse, a step we failed to take while taking cuts elsewhere, including in capital budgets, discretionary spending and non-significant spending.”

Ripley said these “proactive steps” meant that “staff reductions would be significantly less” than if the company had not taken such measures. He also said that “the affected staff will receive resignations and everyone will be offered outplacement services.”

Nevertheless, Ripley added: “This is undoubtedly one of the most difficult messages of my career.”

“But despite the challenge, I am astonishingly proud of our team’s intellect, ingenuity and willingness to collect,” Ripley wrote. “You have proven to be the best team in the industry. And it is this spirit in each and every one of us that I know will lead us through.”

Sinclair (SBGI), which operates 186 television stations across 87 markets in the United States, reported in February a 7% drop in total revenue in the fourth quarter of 2020 compared to the fourth quarter of 2019.

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