Guild discussing buyout; 2 get possible layoff notice

The Guild is negotiating a buyout offer after the company informed two editorial employees Wednesday that their positions could be eliminated in 45 days.

Under the imposed conditions, the company must negotiate a buyout offer before any layoffs can occur. The two employees notified of a potential layoff are the least senior in their respective job titles.

The company indicated it would be willing to consider voluntary buyouts instead of letting these workers go if the cost and savings are similar.

The buyout would be along the lines of dismissal pay in the contract: two weeks of pay for every year of service.

The parties are discussing a possible minimum number of weeks. Health care coverage would be provided for the rest of the year, and there would be no challenge to unemployment.

Employees would have until 5 p.m. Friday, October 19, to notify the Human Resources Department if they are interested in the buyout. The company would have final say on accepting any buyouts.

 

2 thoughts on “Guild discussing buyout; 2 get possible layoff notice

  1. Although I’m not in the guild (exempt) I would be willing to accept a buyout
    as described if it was going to save someone else’s job

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