In case it hasn't been pointed out before, and I think the medical coverage was a little vague in one of my past posts, the buyout deal at the Flint Journal (and presumably elsewhere in the Booth chain) is two weeks pay for every year worked, with a minimum of six months pay.
As to medical coverage it is the same, two weeks pay for every year worked with a minimum of six months coverage.
There is word that some of the employees considering the buyout are troubled by the short medical coverage length. (In the last buyout for employees over 50 the medical coverage continued to age 65 and two years for those under 50).
Some employees are trying to negotiate a longer medical coverage term, but the going has been rough on those negotiations so far.
There may be maximums on both buyout pay and medical coverage, but I'm still waiting on that information.
As to the severance package for part-timers. No news from this end, at least not yet.
Ann Arbor's version of Free From Editors has an interesting article about what happens if you don't take the buyout (when they want you to) and what your next assignment might be. I won't spoil the surprise. Here's the link:
http://papertigernomore.blogspot.com/2008/11/yep-they-really-will-send-you-to-mail.html
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3 comments:
check editor & publisher - 2 journos at star-ledger now sorting mail
Couple of points, both learned in the last buyout:
There was talk of secret deals, but I haven't met anyone who actually got one.
Standard practice is a standard buyout, no bells and whistles. Think about it, they negotiate with you, they negotiate with everyone. Defeats the blanket purpose of a buyout.
Second, health care is actually cheaper when you buy it yourself. Granted, last time there was more money on the table. But you might be surprised. Check with an agent.
Lastly: You knew the first buyout. Now you know the second.
What do you think Round Three will be like?
Mark my words, there will be a reason why these new mailroom employees won't live up to Arwady's high mailroom employee standards. Management will put them on double-secret probation, build cases against them and fire them.
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