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Tribune to Cut Severance Packages

Feb 4, 2009  •  Post A Comment

A bankruptcy judge in Delaware gave Tribune Co. approval to lower its severance packages to workers who may be fired from the media company in the coming months, the Chicago Tribune says. According to the newspaper, its parent company needed the court approval to alter its compensation practices after it filed for protection under Chapter 11. As a result, any employee fired from Tribune within the coming months due to budget cuts may get half of what previous severance packages offered employees, the Tribune says.
—Sergio Ibarra

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