Clear Channel Communications Inc. is laying off 1,850 employees as the nation's largest owner of radio stations grapples with the economic meltdown.
The cuts represent about 9 percent of the company's total work force and affect staff throughout the company, in radio, outdoor advertising and corporate offices.
In a company-wide email sent on Tuesday, Chief Executive Mark Mays told employees that the company is facing an "unprecedented time of distress."
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