A.H. Belo to Offer Voluntary Buyouts to 500
A.H. Belo Corp., publisher of The Dallas Morning News and three other daily newspapers, announced voluntary buyouts due to the "unprecedentedly adverse business environment facing the newspaper industry."
The announcement came after the company reported second quarter revenues of $163.3 million, a net loss of $3.2 million or $0.16 per share.
The Dallas Morning News reports that the publisher aims to shed 500 full-time positions, 14 percent of the workforce, for an estimated savings of $50 million. If it does not reach that goal, involuntary layoffs will follow.
A.H. Belo also publishes the Providence (R.I.) Journal, The Press-Enterprise of Riverside, Calif., and the Denton Record-Chronicle of Denton County, Tex.
For more information, click here.
The announcement came after the company reported second quarter revenues of $163.3 million, a net loss of $3.2 million or $0.16 per share.
The Dallas Morning News reports that the publisher aims to shed 500 full-time positions, 14 percent of the workforce, for an estimated savings of $50 million. If it does not reach that goal, involuntary layoffs will follow.
A.H. Belo also publishes the Providence (R.I.) Journal, The Press-Enterprise of Riverside, Calif., and the Denton Record-Chronicle of Denton County, Tex.
For more information, click here.
posted by amy e. at
7/28/2008 09:39:00 AM
0 Comments:
Post a Comment
<< Home