
                         Roanoke Times
                 Copyright (c) 1995, Landmark Communications, Inc.

DATE: SATURDAY, April 6, 1991                   TAG: 9104060219
SECTION: BUSINESS                    PAGE: A-8   EDITION: METRO 
SOURCE: 
DATELINE: NEW YORK                                LENGTH: Short

CBS PROFITS DROP SPURS 400 JOB CUTS

CBS Inc. posted a sharp drop in first-quarter profit Friday, projected an annual loss at its television network for only the second time in 40 years and said it will cut 400 jobs, or 6 percent of its work force.

The move provided fresh evidence of the toll that the recession is taking on advertising spending and illustrated the increasing competitive pressures facing the three broadcasting giants.

CBS gave no breakdown on how job cuts will be distributed or say if any of its television news personalities will be among those let go.

Most of the cuts will be layoffs, said CBS spokesman George Schweitzer. Some jobs have already been eliminated and others will be axed over the next several weeks, he said.

The austerity should cut operating costs by at least $100 million annually, including about 400 of its 6,650 jobs by the end of the year, CBS said.

- Associated Press

by CNB