'Providence Journal' To Cut 90 Jobs

Posted Monday, December 10, 2001 12:00 am

By: Lucia Moses Updated at 10:35 a.m., Dec. 11

The Providence (R.I.) Journal cut 90 jobs through a voluntary buyout program offered to 180 employees in response to the advertising recession.

Dallas-based Belo, which owns the Journal, offered the buyout to staffers age 55 and older.

Ninety-two accepted the deal, which includes up to 18 months' pay, but does not provide health care coverage for the retirees. The deadline to accept the offer was Nov. 29. About half the retiring employees are newsroom staff.

The Journal's parent, Belo, said last week it expects a percentage decline in newspaper revenue in the mid-teens and a loss of 3 to 4 cents per share in the fourth quarter.

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'Providence Journal' To Cut 90 Jobs

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