GUILD BOARD APPROVES OFFERING BUYOUT PLAN
Guild members should get buyout packages
by Tuesday, Oct. 16, then have 45 days to accept.
The Guild Executive Board today voted not to object to the company's buyout plan that will allow workers 55-years and older to leave the company with up to 18 months of cash.
of the board met for about an hour with company negotiators, who agreed
only to minor revisions in the buyout documents, even though they acknowledged
the union had valid concerns about ambiguous wording.
approving the offer, Executive Board members said they did not want
to stand in the way of a benefit for people who were looking to leave
the Journal. However, Guild members are urged to carefully review the
fine print of the buyout offer, which includes waivers of legal rights.
members accepting the buyout would give up any claim to back pay resulting
from the pending unfair labor practice charges.
Wednesday's meeting, the Journal refused to consider Guild suggestions
that the buyout offer be improved by extending medical insurance or
by offering it to employees younger than 55.
Guild members with general questions are encouraged to call the Guild office. The Guild cannot give legal or financial advice and urges members to consult their own advisors.
TNG/CWA Local 31041
270 Westmister St., Providence, Rhode Island 02903
401-421-9466 | Fax: 401-421-9495