A.H. Belo Corp. will lay off approximately 500 employees at The Dallas Morning News and its three other dailies, CEO Robert Decherd told employees in a memo that said pay cuts and the newly popular industry practice of furloughs had been considered and rejected by management.
The staff reduction, amounting to nearly 14% of employees, is the second big round of job cuts in the past six months. Last summer, A.H. Belo reduced about 500 jobs nationwide with voluntary severance packages followed by layoffs.
"The revenue trends we continue to experience simply do not support or require the same number of people as we have previously employed," Decherd said. "This reduction in force will impact all of the operating companies and corporate, and will probably be in the range of 500 jobs. Specifics about the reduction in force plan will be communicated as soon as possible, but no later than mid-February."
Friday, January 30, 2009
A.H. Belo Plans to Lay Off 500
Facing hard times like every newspaper chain, Belo decided today to let 500 employees go in a cost-cutting move, writes Mark Fitzgerald of Editor & Publisher.