Several insiders have been telling me that Univision will be announcing layoffs in March. The numbers vary greatly. One source says the Spanish-language network is looking to unload over a thousand people. The number was too great and the tips received too many to ignore, so I contacted a Univision spokesperson, who said the company does not comment on rumors.
However, the reality is the company is $10.8 billion in debt. According to a report on Crain’s NY, the company has been doing a lot of cutbacks in recent months and is likely to be hit with a round of layoffs. They cite a recent letter from CEO Joe Uva to employees warning “Additional steps may need to be taken,” in order to survive the steep recession.