A.H. Belo, the parent company of the Dallas Morning News, The Providence (R.I.) Journal, The (Riverside Cty, Calif.) Press-Enterprise, and the Denton Record-Chronicle, announced today that all staffers making more than $25,000 a year will have their pay cut. CEO Robert Decherd is going down with the ship and taking the highest cut, of 20 percent; everyone else is getting between 2.5 and 15 percent, saving the company $10 million. And the company’s pension plan is being suspended for 09 and 10, which saves the company $6 million but pretty much sucks for everyone.
The letter Decherd sent is online here.
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