Broadcaster ARN Media has announced a round of redundancies as part of its ongoing transformation program.
Roles affected are within finance, technology and sales support, with the company confirming a reduction in headcount as it shifts focus towards future growth areas.
“ARN’s transformation program continues as we reshape our business to invest more deeply in the areas driving our future growth, content creation, cross-platform distribution, and advanced commercial solutions,” said ARN Media CEO and managing director, Ciaran Davis.
“As part of this, we are changing the composition of our team to become leaner and more efficient, which will involve the relocation of some roles and unfortunately, a reduction in headcount.
“This is a difficult decision and has not been taken lightly. We are deeply grateful for the contributions of those impacted and are committed to supporting them through this transition with care, respect, and practical assistance.”
The number of staff affected has not been disclosed.
ARN Media reported a 9% increase to $365.6 million in group revenue for the year to December. Digital audio grew 28%. ARN also has a three year Transformation Program to deliver $40 million in cost cutting.
However, media companies across Australia are cutting costs amid a weak advertising market, driven by economic uncertainty, declining traditional media revenues, and a shift in advertiser spending towards digital platforms.
As margins come under pressure, organisations are restructuring operations to focus on digital transformation and more profitable growth areas, resulting in job losses and internal reshuffles.
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