More layoffs coming at Belo-owned TV stations
03/11/09 09:02 AM
By ED BARK
"Cost-saving measures" announced Tuesday by Belo Corp. will include a total of 150 layoffs at the company's 20 television stations, including Dallas-based WFAA8.
The cuts will become effective in mid-April, Belo announced.
Belo Corp. also is cutting station managers' and executives' salaries by 5 percent and ending its matching contributions for 401K retirement funds.
"As a result of these actions, and other measures previously implemented, we expect 2009 cash operating expenses to be approximately 10 percent lower than 2008, excluding severance costs," Belo Corp. president and CEO Dunia A. Shive said in a statement.
WFAA8 currently is leading the local newscast ratings at 6 p.m. and 10 p.m., but has fallen to third place in recent months at 6 a.m. and 5 p.m.
This will be the third job-trimming at the station in the past seven months. In August, WFAA8 laid off anchor Macie Jepson as part of eliminating 14 positions at the station, 10 of which had been vacant. And in January, WFAA8 canceled both The Gordon Keith Show and Young Street, laying off 12 people while leaving six vacant positions unfilled.
"Cost-saving measures" announced Tuesday by Belo Corp. will include a total of 150 layoffs at the company's 20 television stations, including Dallas-based WFAA8.
The cuts will become effective in mid-April, Belo announced.
Belo Corp. also is cutting station managers' and executives' salaries by 5 percent and ending its matching contributions for 401K retirement funds.
"As a result of these actions, and other measures previously implemented, we expect 2009 cash operating expenses to be approximately 10 percent lower than 2008, excluding severance costs," Belo Corp. president and CEO Dunia A. Shive said in a statement.
WFAA8 currently is leading the local newscast ratings at 6 p.m. and 10 p.m., but has fallen to third place in recent months at 6 a.m. and 5 p.m.
This will be the third job-trimming at the station in the past seven months. In August, WFAA8 laid off anchor Macie Jepson as part of eliminating 14 positions at the station, 10 of which had been vacant. And in January, WFAA8 canceled both The Gordon Keith Show and Young Street, laying off 12 people while leaving six vacant positions unfilled.