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Sep 5, 2008 6:42 am US/Central

Belo Completes Buyouts, Layoffs Done Soon

DALLAS (AP) ― A.H. Belo Corp. said Thursday 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 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.

(© 2008 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.)

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