Nexstar Media Group, which has been trimming staff at The CW in recent months, plans to expand those belt-tightening efforts by cutting 2% of its total workforce. The reductions are centered on the company’s local station portfolio,

The layoffs, which are expected to impact less than 2% of the company's workforce, are aimed at reducing overall operating expenses

The local TV giant looks to be strengthening its balance sheet in the face of a soft advertising market and losses at The CW that have narrowed in recent quarters.

Nexstar Media, which has built itself up in recent years with an acquisition spree that includes TV stations and the CW network, now has to make some trims. "Our broadcasting and sales divisions are streamlining their organizations to reduce our operating expenses and accelerate collaboration across the company,