Monday, April 6, 2009

Belo Starts Layoffs Today; 500 Expected to Go

A.H. Belo, the parent company of The Dallas Morning News and Providence Journal, said it will begin its layoffs today.

Belo had announced in January that it intends to release 500 employees throughout its company, which represents about 14 percent of its workforce.

Specific numbers for each of its properties have not been released, but the company has announced most of the layoffs will take place today and tomorrow.

"Our company continues to face unprecedented economic challenges during this prolonged recession, making this staff reduction a very difficult but necessary decision," said Jim Moroney, publisher and chief executive of The Dallas Morning News.

The cuts come after A.H. Belo said last week it will cut some workers' salaries and suspend pension contributions for the year. Full-time employees making more than $25,000 per year will see salary cuts of between 2.5 percent and 15 percent, depending on their base salary. The changes will go into effect around the beginning of May.

1 comment:

Ray said...

Time to hit the job sites! (profesional networking) (aggregated listings) (matches you to jobs)

good luck all!