In a bid to secure financial stability, Nielsen has announced workforce reduction. The company will reduce headcount by 9 per cent, globally. The company is focussing on investing in areas that promote innovation and advancement in the field of cross-media measurement for the future.
The current round of layoffs will affect its product, sales, insights, engineering, ad-intel and panel management. As per local US media, 30 individuals have been laid off from its radio and TV sector.
The exact number of employees has not been disclosed by the company. However, the current layoffs are set to impact only lower-tier positions.
Nielsen’s US field service team, responsible for recruiting potential panellists, will remain unaffected by the layoffs right now.
As per a financial filing of December 2021, Nielsen had a global workforce of 15,000 employees, with 6,200 of them based out of the US.
Similar to the previous layoff round, the company has stated that it will be helping the departing employees with severance packages, and other benefits such as outplacement assistance, and continued health insurance coverage to ensure a seamless transition during this period.
This is the second substantial round of layoffs at Nielsen, since its ownership changed hands in October 2022. The company was acquired by Evergreen Coast Capital, Brookfield Business Partners, and other equity partners for a sum of $16 billion.