16 Guild members apply for buyouts
Sixteen employees covered by the Guild applied for the buyouts offered by the Company.
The workers will learn Monday which ones the Times Union has approved. The individuals will then have 45 days to decide whether to accept the buyout offer or to stay. Once employees sign the paperwork, they have seven days to change their minds and rescind the decision.
Some of the employees who applied for the buyout did so because they are on the bottom of the seniority scale, would prefer to stay but wanted the extra pay and/or health care if forced to go. Others applied to keep their options open while looking to see if they could find another job within the 45-day period. And many applied because they have already decided to take advantage of the extra pay and health-care coverage to leave voluntarily.
We expect there will also be some non-Guild employees who leave and whose departure will be counted toward the Company’s stated goal of reducing the staff by 10 to 15 employees.
We’ll share more details next week once we learn how many buyout offers the Company has made.
Best wishes to many of my former colleagues. Sometimes loyalty and dedication doesn’t payoff…learned that the hard way. Know that a lifetime of hardwork means more to your soul then the way you are treated by the company you work for.