Richmond-based Media General Inc. is requiring employees to take more furlough days by the end of the year because of an ongoing slump in advertising revenue.
The company, which owns the Richmond Times-Dispatch, said yesterday that its employees must take five furlough days by the end of the year. One day must be taken by Sept. 27, the end of the third quarter.
The new round of furloughs brings to 15 days the total amount of unpaid time off this year for Media General employees. Previously, ten furlough days were required from March to the end of the third quarter.
The company implemented the furloughs along with other cost reductions this year as the economic recession led to a decline in advertising sales, prompting job cuts and unpaid leave at many companies. More…