Newspaper Biz Down

Belo Freezing Salaries

Friday, Oct 24, 2008  |  Updated 12:46 PM CDT
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Newspaper Biz Down

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Dallas Morning News publisher A.H. Belo said it will freeze salaries beginning November 1st.

The Dallas Business Journal says the newspaper publisher also told shareholders in a letter it is suspendng its 2% profit-related contributions to employees' individual 401(K) accounts.

This year, Belo reduced the company's workforce by 13 percent, cutting employment expenses about $30 million annually.

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