Friday, January 30, 2009

A.H. Belo to lay off 500 workers, 14 percent cut

Newspaper publisher A.H. Belo Corp. said Friday it will lay off 500 workers, or about 14 percent of its work force, and implement other cash-saving measures to cope with declining advertising revenue.

Chief Executive Robert Decherd informed staff in a memo on Friday and said more details would be available by mid-February.

Decherd did not say in the memo how much money the layoffs would save, but said other measures, such as suspending a
savings plan match, raising parking and transportation charges to employees and reducing cell phone reimbursements would save or raise about $6.2 million a year.

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