Guild secures extension on buyout deadline to delay and mitigate layoffs

The Guild avoided layoffs Wednesday with an agreement between the Company and the Guild to give members additional time to consider applying for a buyout.

During the afternoon negotiations working with the Company, it was agreed to extend the deadline for all Guild-eligible employees until 5 p.m., July 5.

The agreement reached gives members the opportunity to consider and apply for buyouts before the Company pursues layoffs.

The meeting of the parties was promoted after the Guild challenged the Company’s authority to circumvent provisions written in the contract, specifically not providing proper notification to the Guild.

In part, the Executive Board argued:

“In refusing to provide a 45-day notice to the Guild, we believe the Company is in direct violation of Section 3-C, which states in part:

‘At least forty five (45) work days in advance of the effective date of such discharges, the Company will notify the Guild so that, if requested by the Guild, there may be consultation for the purpose of considering possible means by which the hardship of such discharges may be alleviated.’”

The Company was further reminded it approached the Guild regarding buyouts May 20, and planned to pursue layoffs Wednesday, which is not within the 45-day window.

Board members also requested more information regarding exactly where layoffs were being targeted and written documentation of agreements met between the Company and the Guild for some title changes.

The Executive Board encourages all Guild-eligible employees to reach out to the Board with questions at

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