“As part of Nielsen’s reorganization and prioritization work that began in 2022, we announced a reduction in our global workforce today.”
That’s the official word from a Nielsen spokesperson regarding what is rumored to be a significant culling of jobs at the audience measurement and consumer data analytics company that completed a privatization effort in October 2022.
According to the company representative, the total headcount following this “reorganization” will be “roughly in line with where it was a year ago.”
That said, Nielsen could be parting ways with hundreds of employees around the world; the spokesperson declined to respond to RBR+TVBR’s request for the total number of individuals impacted by the reduction-in-force initiative.
However, Nielsen in July 2020 revealed it would shed 3,500 jobs worldwide as it reassessed its “underperforming markets” and non-core businesses through the end of a year ravaged by COVID-19.
The Nielsen representative explained the reason for the reduction-in-force being carried out on Wednesday (1/11).
“In this effort, we are prioritizing investments in our panel, product quality, and technical innovation — the cornerstones of our brand,” the Nielsen spokesperson said, adding that Nielsen is offering severance pay, outplacement services, health insurance, and full 2022 bonuses to those eligible “to make this transition as smooth as possible.”
The job cuts are tied to the privatization of Nielsen Holdings plc by a private equity consortium composed of a one-time dissident shareholder, Evergreen Coast Capital Corp., an affiliate of Elliott Investment Management L.P. The Elliott affiliate teamed with Brookfield Business Partners L.P. and institutional partners for the transaction that, including debt, was valued at $16 billion.
The reduction-in-force comes following the confirmation by RBR+TVBR on January 10 that Catherine Herkovic will lead Nielsen’s North America Audio and Local TV business, reporting to Amilcar Perez, Chief Revenue Officer of the company’s Audience Measurement Business. As such, Herkovic is absorbing duties that were held by the exiting Brad Kelly, the face of Nielsen Audio to the radio industry since the company acquired Arbitron.
