Belo to Cut 150 Jobs, Lower Salaries

Wednesday, Mar 11, 2009  |  Updated 9:00 AM CDT
View Comments (
)
|
Email
|
Print
Belo to Cut 150 Jobs, Lower Salaries

AP

advertisement

Television company Belo Corp. says it plans to cut about 150 jobs, reduce some employee salaries by 5 percent and suspend its 401(k) matching contributions to help reduce cash operating expenses by about 10 percent this year.

The 5 percent salary reduction will affect employees who are part of the Dallas-based company's management-compensation programs. The suspension of the 401(k) matching program, however, will apply to all employees.

Belo says the cost-cutting measures will take effect in mid-April.

President and Chief Executive Dunia Shive said the new steps and past cost-cutting initiatives will reduce 2009 cash operating expenses by about 10 percent, excluding severance costs.

Get the latest headlines sent to your inbox!
View Comments (
)
|
Email
|
Print
Leave Comments
What's New
Get NBCDFW on Mobile!
Get NBCDFW's free news and weather... Read more
Follow Us
Sign up to receive news and updates that matter to you.
Send Us Your Story Tips
Check Out