DALLAS (AP) - A.H. Belo Corp. said today that it has completed a round of buyouts at its newspapers and that layoffs will be done by this fall.
The company made the voluntary severance offer in July and 413 employees have accepted and plan to leave the company. That includes 270 people at The Dallas Morning News, 23 at The Providence Journal in Rhode Island and 120 at The Press-Enterprise in Riverside, Calif.
The company said the buyouts will cost $11.2 million.
A.H. Belo said involuntary cuts will be completed by mid-to-late October to meet its staff reduction goals.
The combined work force reductions are expected to result in a savings of more than $29 million on an annualized basis.
(Copyright 2008 by The Associated Press. All Rights Reserved.)
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