Journal Offers 8 Buyouts

The Company has notified the Guild that in order to reduce costs, it is offering four buyouts in advertising and four in editorial.

            In advertising, it is looking for two advertising sales reps and two inside sales reps. In editorial, it’s one copy editor, one reporter, one photographer and one editorial assistant.

            If the eight-position target is not hit, the company reserves the right to layoff according to the contract language.

Those taking the buyout will get 1.25 weeks base pay for every year at the Journal, up to a maximum of ten weeks. They will remain on the payroll until Dec. 31, 2011. This will make anyone who takes the offer eligible for next year’s pension transition supplement payment.

            If more than the number of people sought applies for a buyut, the most senior employees in each position will be chosen. Eligible employees interested in a buyout must notify the company by Dec. 16, 2011 in writing or by emailing Vice President for Human Resources and Labor Relations Thomas J. McDonough at tmcdonou@projo.com.

We ask that you let us know by emailing png1@verizon.net.

Though it has listed the eight positions it prefers to buy out, the company said it will consider requests from other positions, but makes no promise that those will be accepted. Our advice is, on the list or not, if you are interested, there is no harm in asking.

           This offer is superior to the layoff language in our contract, which requires two weeks’ severance pay upon termination.

These are anxious times in our business. Across the country, this fiscal quarter has seen drops in revenue and at other Guild papers layoffs and pay cuts have been common.   

Obviously, whether the company hits its eight-position goal will be of intense interest for those who fear they may be vulnerable to layoff. Please resist the temptation to ask those of our co-workers who may be eligible about their plans.

This will be a difficult decision for them; one that requires them to balance a lot of very personal issues about finances, health and even a spouse’s interests. It would be hard enough for them in the easiest of circumstances, let’s not make it worse.

If you have questions call Betsy Regan, Guild Administrator in the Guild office at 421-9466 or Guild President John Hill at 277-7381. All conversations will be kept confidential.