Employment News
Belo to Cut 150 Jobs, Salaries
By Erik Even | Dated: 03-11-2009
Television station owner Belo will cut 150 jobs, reduce some employee salaries by 5%, and suspend its 401(k) matching contributions.The salary reduction will affect employees who are part of the Dallas-based company’s management-compensation programs. The suspension of the 401(k) matching will apply to all employees.
Belo, which owns 20 television stations, said the layoffs will take effect in mid-April.
Belo’s revenue fell more than 5% in 2008 as higher Internet revenue failed to offset advertising declines.
In response, the company initiated a hiring freeze, reduced staff in some markets and took other cost-cutting steps last year.
Career Connect (From our other career blogs):
- Employment News (Sponsored by EmploymentSpectator)
- Following Your Passion-Literally! (Sponsored by iamnotastalker.com)
- Job Search Advice from the CEO of TravelingCrossing (Sponsored by aharrisonbarnes.com)
- Layoff News (Sponsored by LayOffWatch)
Testimonial of the Week
The number of jobs listed on EmploymentCrossing is great. I appreciate the efforts that are taken to ensure the accuracy and validity of all jobs.
- Richard S Baltimore, MD
Sign Up now
Only TravelingCrossing consolidates every job it can find in the domain and puts all of the job listings it locates in one place.
- We have more jobs than any other job board.
- We list jobs you will not find elsewhere that are hidden in small regional publications and employer websites
- We collect jobs from more than 4,429,376 websites and post them on our site.
- We are private, and therefore far fewer people are applying for the jobs on our site than are applying for those on public job boards.
