Projo Biz Blog

A.H. Belo Corp., owner of the Dallas Morning News and The Providence Journal, said this morning it plans workforce reductions across the company in the range of 500 jobs.

In a letter to employees, Robert W. Decherd, chairman, president and chief executive officer, said more details of the plan will be made public no later than mid-February.

Decherd, who cited "the rapid deterioration of the U.S. economy," also said the company would suspend the company's savings plan match, effective on April 1, to preserve about $5.5 million in cash annually and to allow the company to limit the job cuts.

Dallas-based Belo also owns The Press-Enterprise in Riverside, Calif., and the Denton (Texas) Record-Chronicle, plus the newspapers' Web sites, including projo.com.

 Tags  A.H. Belo Corp. Dallas Morning News Providence Journal Robert Decherd

Comments

RITaxpayer said:

Now, I'm no wizard when it comes to running a business but, if the object is to sell MORE newspapers, Is CEO Decherd sure this is the way to do it, or is this just part of the death-spiral at the pro-jo?
I think more than anything, new leadership is needed at AH Belo. Maybe there's a Metcalf out there that could do better.

Link | January 30, 2009 10:39 AM
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