(CNN) National Public Radio will lay off 10% of its staff after projecting a $30 million budget shortfall, NPR CEO John Lansing wrote in a note to employees Wednesday. It has become the latest media outlet to make painful cuts as the dramatic slowdown in the advertising market continues to send shock waves through the industry.
“When we say we’re getting rid of busy positions, we’re talking about our colleagues — the people whose skills, spirit, and talents help make NPR what it is today,” Lansing wrote in the memo obtained by CNN. This will be a huge loss.”
An NPR spokesperson told CNN that the layoffs at the public broadcaster, home to popular news programs “Morning Edition” and “All Things Considered,” will result in at least 100 job losses.
Lansing said in his note that the network was grappling with a “sharp drop” in revenue from corporate sponsors as a result of the unstable economy. He said the organization has already cut $14 million in expenses, including freezing the majority of job openings, suspending paid internships, and restricting non-essential travel.
“With approximately 65% of our budget subsidizing personnel costs, we will need to eliminate many of the vacancies that have been frozen. We will also need to reduce filled positions by about 10%,” he said.
Lansing said he hopes to make final decisions about which positions to eliminate on March 20.
In recent months, the media and technology sectors have taken a hit as advertisers tighten spending amid economic uncertainty.
Throughout the news industry, layoffs have been rampant. CNNnbc news, MSNBC, Fox MediaAnd Gannett and other news organizations have cut their workforces in recent months. Companies that did not lay off employees took aggressive spending cuts.
Layoffs spread across Silicon Valley Technology companies are making deep cuts. Earlier this month, Yahoo announced that it would cut 20% of its total workforce. Spotify, Google, Meta, Amazon and Microsoft have also announced layoffs affecting thousands of employees.
Entertainment giants, such as Warner Bros., have also scaled back. Discovery (CNN’s parent company), Disney and Paramount Global, their workforces.
CNN’s Oliver Darcy contributed to this report.