Ay carumba! Spanish Media Conglomerate Slashes 2,500 jobs

Image via WikipediaGrupo Prisa (Promotora de Informaciones, S.A.), the Spanish media giant that owns magazines, radio stations, television stations and newspapers, including El Pais, Spain's largest daily, will pare its worldwide work force of  14,000 by 18 percent, or 2,500 jobs, according to Bloomberg BusinessWeek.

The employee layoffs, or despidos de empleados, will entail 2,000 jobs in Spain and another 500 positions in  Portugal and the U.S. combined.  Delaware-based Liberty Acquisitions Holdings Corp. acquired Grupo Prisa last November in a debt-reduction move