Decherd buries the lede a bit, waiting til the sixth graf to say that 500 jobs could be on the chopping block:
The most significant cost initiative will be a further reduction in force across the Company. The revenue trends we continue to experience simply do not support or require the same number of people as we have previously employed. This reduction in force will impact all of the operating companies and corporate, and will probably be in the range of 500 jobs. Specifics about the reduction in force plan will be communicated as soon as possible, but no later than mid-February.Additionally, Belo will suspend company matches to 401k accounts and limit reimbursements for work-related expenses. Employees will also have the pleasure of paying to come to work:
Similarly, it is no longer reasonable for the Company to provide free parking in downtown Dallas. A monthly charge of $40 will take effect May 1, 2009 for all downtown Dallas surface lots owned by the Company. Parking for A. H. Belo employees in the garage of The Belo Building will be increased from $40 per month to $70 per month. Bus and rail passes in Dallas will have charges ranging from $18.75-$30 per month beginning May 1. Combined, these fees will generate approximately $520,000 per year. We are looking at the possibility of similar transportation-related charges in Riverside and Providence.(Decherd memo comes via Romenesko)
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4 comments:
I'm surprised no one has made any comments on this. There are a few things that could be said.
like?
like go and look at the comments regarding anything lang related.
You think LANG comments can also apply to Belo?
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