January 8, 2019
The owner of the troubled Dallas Morning News is laying off about 4% of its workforce, 43 employees in its newsroom and elsewhere.
That includes about 20 writers, editors, photographers and other personnel, the newspaper said in Tuesday editions.
The newspaper’s parent company, A. H. Belo Corp., has 978 employees, and called the layoff a “part of a company-wide reorganization.”
Newspaper revenue has been off industry-wide for years, but has been acute at the Dallas newspaper over the past several months, and Belo said revenue declined almost 19% over the first nine months of 2018 when compared with a year earlier.
The company said recently that it had $58.47 million in cash on hand and no debt, but it’s about to report its 4Q earnings.
News President and Publisher Grant Moise said, “After considerable thought and analysis, our management team has determined that our business in the future is largely supported by subscription revenue and the need for more aggressive investment in our digital products.”