January 29, 1993 |
Sears Catalogue Printer May Lay Off 660: The nation's largest commercial printer said it will likely lay off 660 employees as a result of Sears, Roebuck & Co.'s decision to discontinue most of its catalogue operations. R. R. Donnelley and Sons Co., which prints Sears catalogues, said it will close a 65-year-old plant on Chicago's South Side and relocate production to other facilities.
September 26, 1991 |
Time Warner Inc. Chairman and Co-Chief Executive Steven J. Ross stood his ground Wednesday as shareholder after shareholder at the debt-straitened media giant's annual meeting denounced his 1990 compensation of $78.1 million as "abusive," "immoral" and "obscene."
September 24, 1991 |
Court Says UPI Can Stop Paying Severance: United Press International won court permission to stop paying severance to laid-off employees and to continue pay cuts that it says it needs to stay in business. U.S. Bankruptcy Judge Francis Conrad in Manhattan also granted the company's request to use stringers or contract employees in place of laid-off staff. UPI's chief financial officer, David L. Moier, said Friday that without the concessions, UPI will have a $1.9-million cash deficit by Nov.
September 20, 1991 |
Aiming to save more than $30 million a year, Time Warner Publishing announced a restructuring program Thursday that includes elimination of about 600 jobs, or 10% of the work force, at its magazines. The cutbacks include the closure of Time magazine bureaus in Houston, Detroit, Boston, San Francisco and Miami, a Time Warner executive confirmed. The news magazine, he added, "will continue to maintain a staff presence" in those cities, with reporters likely working from their homes.
August 30, 1991 |
Magazines May Cut Jobs: Time Warner Inc. magazines plan to eliminate dozens of jobs and close news bureaus to cut operating costs, according to a published report. The job cutbacks will hit especially hard at the company's flagship magazine, Time, according to the Wall Street Journal, which cited unidentified sources. Time plans to eliminate about 38 editorial jobs, including 20 correspondents stationed at domestic and foreign bureaus, according to the sources.