Discussions on the proposed buyout will resume at 3 p.m. Thursday.
The Guild committee has been reviewing data on the makeup of the editorial department. We examined the age and length of service of our members and calculated multiple examples of what retiring could mean to workers.
For many, retiring now could mean a loss of $3,000 to $4,000 a year in pension income as well as a reduced Social Security payout.
The department has 19 members who would be affected by the company’s proposed cap of one year’s severance. We have 12 members with 25 or more years of service.
To prevent layoffs among our newest members, we’re hoping the company will agree on some way to enhance the buyout for our longest-serving colleagues.
Any employee who is considering taking a buyout should ask Human Resources Director Carole Hess for a calculation of their pension benefits.
The members of the committee bargaining the buyout are President Tim O’Brien, Chief Steward Brian Nearing, Vice President Jeff Boyer and page designer Gillian Scott.
Once a buyout agreement is reached, a membership meeting and voting time will be scheduled.