Monday, April 23, 2007

Tribune will accept 150 LAT volunteers (to go)

Los Angeles Times publisher David Hiller announced the deal in a lengthy memo to all employees – though the deal itself is not available to all. Editor O'Shea followed up with a memo in which he said he had "worked extremely hard to minimize any staff reduction." Read them here and here on

The Employee Voluntary Separation Plan (EVSP) includes:
-- one week's pay for every 6 months of service paid thru salary continuation;
-- benefits continued for eligible employees for length of separation pay;
-- employer 401(k) allocation that will continue for eligible employees;
-- outplacement assistance

The company needs to eliminate positions and not fill others, so if it doesn't get the numbers through the voluntary separation offer, folks will have to go involuntarily.

So should you roll the dice? According to the plan, if your position is eliminated you get the same buyout as if you participated in the EVSP. If you are "encouraged" to take the EVSP but don't, what's the chance you are taking?

What's the plan in Chicago?

(end of post)

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