A. H. Belo, parent company of The Dallas Morning News, is
cutting base compensation for all employees between 3 percent and 17 percent in
response to dropping ad sales due to coronavirus. Total compensation for senior
executives may be reduced by as much as 27 percent, the company
The company is not instituting layoffs or
furloughs at this time. It will be accessing its cash reserves for $8 million.
Robert W. Decherd, A. H. Belo’s chairman,
president and chief executive, said the company started the year with $48.6
million in cash. “Our company is advantaged by comparison to most others,
especially within the newspaper industry. This gives our board choices to
prioritize the long-term health of this great enterprise and support its reason
for being — that is, to provide invaluable news and information to the people
who depend on us and to the communities The Dallas Morning News has served for
nearly 135 years,” he said.
The company’s board is set to shrink by two at
the annual meeting, as directors Ty Miller and Nicole Small will not stand for
reelection.
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