Just a reminder that almost a quarter of these “organizational efficiencies” will make-up the CEO’s pay, alone.
@jasonschreier.bsky.socialEA's annual Ebitda is around $1.5 billion, which should be enough to service the interest payments. But the publisher has told debt investors that it will cut $700 million in annual costs including $170 million in "organizational efficiencies," per Bloomberg. In other words: mass layoffs