UPI to lay off 40 staff
NZPA-AP Washington United Press International said it lost SUSI 6 million (JNZ2S.2M) in 1988 and that it was laying off about 40 employees worldwide. President Paul Steinle said the 1988 loss was down substantially from a SUS2SM (SNZ39.4M) shortfall in 1987,
and that he expected the 81-year-old news agency to begin turning a profit by the end of this year. About one third of UPl's 1988 losses resulted from one-time costs involving the Olympics, political conventions, elections and staff severance payments.
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Press, 17 January 1989, Page 25
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87UPI to lay off 40 staff Press, 17 January 1989, Page 25
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