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AFFILIATED PUBLICATIONS, INC. ANNOUNCES COMPLETION OF VOLUNTARY STAFF REDUCTION PROGRAM AT THE BOSTON GLOBE

AFFILIATED PUBLICATIONS, INC. ANNOUNCES COMPLETION OF VOLUNTARY STAFF
 REDUCTION PROGRAM AT THE BOSTON GLOBE
 BOSTON, June 4/PRNewswire/ -- Affiliated Publications, Inc. (NYSE: AFP) today announced the completion of a voluntary staff reduction program at its subsidiary, Globe Newspaper Company, publisher of The Boston Globe.
 Forty-two employees of the Boston Globe have retired under the provisions of the program, which was limited to white collar personnel in the Boston Globe Employees Association.
 William O. Taylor, chairman of the board, said the reduction program will have long-term financial benefits for the company.
 "It's never pleasant to say goodbye to friends who are retiring. We wish these colleagues the very best," he said. "The completion of this program, however, is another important step forward in our effort to remain competitive at The Boston Globe in a changing advertising environment."
 The cost of the enhanced benefits payable under the plan will amount to approximately $3.6 million pre-tax, an expense that will be charged in the second quarter of 1992. The after-tax effect on earnings per share will be 3 cents.
 The voluntary retirement program was part of an overall attrition plan announced late in 1990, which included a management reduction program in 1991.
 -0- 6/4/92
 /CONTACT: William B. Huff, chief financial officer of Affiliated Publications, Inc., 617-929-2663/
 (AFP) CO: Affiliated Publications; The Boston Globe ST: Massachusetts IN: SU: PER


TM -- NE006 -- 7175 06/04/92 16:10 EDT
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Publication:PR Newswire
Date:Jun 4, 1992
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