Sometimes an employee is just fired just because. According to the Toledo Blade, Clear Channel Communications, a major corporation headquartered in San Antonio, has been quietly laying off numerous employees. The layoffs started when Bain Capital, Mitt Romney’s former business, bought a large share of Clear Channel. A controversial radio talk show host was recently fired in Toledo. That termination followed other terminations at radio stations in Nashville and elsewhere.
According to one industry observer, clear Channel is laying folks off to satisfy impending debt obligations. One observer says they have laid off a handful of employees each week for the past 52 weeks. See Toledo Blade report. Yes, sometimes folks are simply laid off because the business has new owners. The interesting part is who is picked for the layoff and why.