Tag Archives: corporate mumbo-jumbo

Adventures in voluntary buyouts: Volunteer, or you will be volunteered

Remember when Gannett announced a new round of early retirement incentives aimed at cutting the numbers of senior (i.e. high-cost) staff? Well, the deadline is almost upon us. And apparently, not enough Gannetteers are volunteering.

The offer, for those just joining us, was open to staffers 55 or older, or who had at least 15 years’ seniority in the company. Employees with 25 years or more seniority would get two weeks’ pay per year of service (capped at 52 weeks’ pay); those with 15 to 25 years seniority would get 1.5 weeks’ pay per year. Vermont’s Gannett outlet, the Burlington Free Press, has some notable Olds on its masthead, including Mike Donoghue, Michael Townsend, and Aki Soga, who would presumably qualify for the gilded plank.

Last week, Gannett’s Chief People Officer (I kid you not; that’s his actual title) David Harmon sent a letter to all staff, reminding them that the deadline for this offer is Monday, October 12. And delivering some unsubtle hints that so far, enthusiasm for the offer has been less fulsome than expected.

Continue reading