The Belo Axe Falleth (Again)

[kjohnson 17]

From the St. Louis Business Journal:

 

Television broadcasting company Belo Corp., parent of KMOV-TV Channel 4 in St. Louis, said Wednesday the company will be cutting 150 positions companywide, suspending the company’s 401(k) matching contributions for all employees and reducing the salaries of employees who are part of the management compensation programs by 5 percent.

 

Dallas-based Belo (NYSE: BLC) said these actions would take effect in mid-April.

 

Allan Cohen, general manager of KMOV, declined to discuss the number of lay-offs that will occur in St. Louis, saying it was a personnel matter.

 

The cost-cutting measures will cut Belo’s cash operating expenses about 10 percent in 2009, said Dunia Shive, the company’s president and chief executive officer.

 

Belo has 20 TV stations nationwide.

 

Basically, the bloodbath continues: KMOV no longer has John Mills or Mike O'Connell; both have been let go over the past few months.

 

So, what do you think will happen at other Belo stations?

[HamptonRoadsNews 0]

Weekend reporter Andria Borba was let go today at WVEC (ABC/13) Norfolk.

[Que 73]

WFAA has already let a few go over the months. Yet they have brought on a few new faces too (I assume at cheaper salaries).

[first on fox 18]

KTVK also laid off 2 on-air staffers

http://www.ktar.com/?nid=6&sid=1100971

[WAVY 10 Fan 233]

Weekend reporter Andria Borba was let go today at WVEC (ABC/13) Norfolk.

 

Saw that on VARTV. At least two other staffers (considering they weren't named, probably none of whom were on-air personalities) were also let go.

[PelicanGuy 117]

WWL is laying off five...all clerical and technical positions.

 

http://blog.nola.com/davewalker/2009/03/parent_company_forces_layoffs.html#more