Earlier this week, Nielsen announced its second major workforce reduction of the year, laying off approximately 9% of its global staff. This decision comes amid increasing competition in US TV and cross-platform media measurement. The new cutbacks, first reported by AdAge, cast a shadow over Nielsen’s Audio division, especially after January’s steep cuts.
The first round of layoffs had already impacted Nielsen’s radio measurement business, which is part of Nielsen Audience Measurement’s product development team. This unit was rumored to be facing cuts of up to 30% aimed at achieving $200 million in annual savings. A Nielsen’s spokeswoman called these numbers “way off,” she did not disclose the company’s financial details.
The spokeswoman has given very little details about the situation, with a full statement of, “Nielsen announced a very difficult decision to reduce our global workforce by about 9% today in an effort to bring costs in line with our revenues and to ensure the company’s financial strength for the future. We will continue to prioritize areas that will drive innovation and the future of cross-media measurement. Nielsen is offering severance pay, outplacement services, and health insurance to make the transition as smooth as possible.”
Nielsen was taken private last year by a group led by Elliott Investment Management and Brookfield Business Partners. Despite the spokeswoman’s reluctance to disclose current employee numbers, the last available annual report from early 2022 showed that Nielsen had about 15,000 employees worldwide and 6,200 in the U.S. Based on these figures, the layoffs could impact well over 1,000 employees.
While the majority of the 9% being let go have already been informed, it’s unclear how much or if the audio measurement team was affected again. Nielsen has declined further comment.
