Members approve company buyout

The Albany Newspaper Guild membership unanimously approved an agreement of the voluntary separation incentive program with the Times Union Thursday night October 17, 2024 during a special meeting.

Under the terms of the agreement, unit members have until 5 p.m. Friday, October 18, 2024 to apply for the buyout.

The extension of the application date, agreement on the separation language, appeal to Publisher George R. Hearst III if an application is rejected and payout of accumulated time were among the features of the buyout agreement.

Anyone taking the buyout will receive from 13 to 52 weeks of pay and an equivalent amount of health insurance. The payout is based on length of service at the Times Union.

Members were reminded that if their applications were accepted and they rejected it they would be considered to have resigned. The Guild was advised by its attorney that this would be considered legal.

Anyone who rejects the buyout after being accepted and is dismissed could sue the Times Union under the federal Older Workers Protection Act.

During the meeting, discussion was held about the number of applications made so far by Guild members and exempt managers, the tax implications, receiving accumulated time off and health insurance.

Any questions about the buyout should be directed to Local President Ken Crowe by email at ken@albanyguild.org or by calling him at 518-505-0610. He will be available Friday, October 18, 2024 to answer questions.

All buyout applications are due by 5 p.m. Friday October 18, 2024 at the Human Resources Office using the form supplied by the Times Union.

Approved for Posting: KCCII, 10/17/24