Newspaper Biz Down - NBC 5 Dallas-Fort Worth

Newspaper Biz Down

Belo Freezing Salaries



    Newspaper Biz Down

    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.