Letter LEAKED – CEO Dropped BOMB

They had no idea.

Around a hundred fifty employees from Seven West Media (SWM) have found themselves in the bread lines due to a round of layoffs as the company seeks to reduce overhead. Among those who were left without a job are three of the company’s senior executives.

The announcement came from Jeff Howard, the CEO of SVM, in the form of an email that went out on Tuesday the 25th discussing the urgent need to cut costs in the wake of the failure-to-renew of their biggest client, Meta (the parent company that owns Instagram and Facebook). In the email, Howard discussed an extensive restructuring wherein many of those who aren’t being let-go will find their roles within the company shifting, while a good number of employees were going to be shown the door. The company’s leadership, he said, is working to make the negative impact of the changes as bearable as possible.

SWM needs to save around a hundred million dollars to remain viable, according to the Sydney Morning Herald. Howard’s letter discusses the broad range of its company’s successful business, including print, digital, and television content. However without the Meta contract, the company’s $1.2 billion overhead is simply not sustainable.

SWM’s restructuring will see the departure of Melissa Hopkins, their chief officer of marketing and audience, and Kurt Burnette, the chief revenue officer. Lewis Martin, the managing director of the Melborne office—who also doubles as the head of sport—will also be leaving.

All told, the trio have spent a combined 65 years building and maintaining SWM’s business. Burnette racked up thirty-four years with the company, while Lewis himself had three decades under his belt. Ms. Hopkins was a recent arrival, having been hired away from a position at Optus in March of 2023. Howard said in his email that the workplace environment won’t feel the same without their presence.

Howard wished the departing executives a bright future and shared hopes of bringing the team back together in the future when financial prospects were better.