Nielsen is planning to lay off 9% of its global workforce, in order to cut costs and 'realign revenue'. Employees received the news in a statement issued on Wednesday, and the cuts are expected to affect around 1,000 members of staff.
A year ago, Nielsen received shareholder approval for its sale to a private equity consortium for approximately $16 billion. The company is now managed by Elliot Investment Management and Brookfield Business Partners, and in 2022 had around fifteen thousand employees worldwide.
A number of senior jobs went in December: it was reported that Nielsen would be restructuring its business into three global business units, namely Nielsen Audience Measurement, Nielsen Analytics, and Gracenote, and that this would result in five of the firm's senior managers leaving the business; then the following month, it was reported that Nielsen Audio MD Brad Kelly would be leaving the firm as part of this 'executive shake-up'. Later in January, Nielsen confirmed that it would reduce total headcount to 'roughly in line with where it was in early 2022'.
In a statement, the company said: 'Nielsen today announced the difficult decision to reduce our global workforce by approximately 9% in an effort to align costs with our revenues and guarantee the company's financial strength for the future. We will continue to prioritize areas that drive innovation and the future of cross-media measurement. Nielsen is offering severance, outplacement services and health insurance to make this transition as smooth as possible'.
Web site: www.nielsen.com .
All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas unless otherwise stated.