"At this time we are offering this program instead of pursuing other cost management actions but we cannot rule out other actions in the future."
-- U.S. newspapers President Bob Dickey, in a memo to employees this afternoon, outlining terms of an early retirement offer to 665 workers. Such buyouts are often followed by layoffs if an insufficient number of workers volunteer.
Exactly! Did everyone catch the date? March 31. SMH! Hopefully there will be another 2008 bloodletting and make me part of it.
ReplyDeleteSo wished I qualified for the buyout. :(
Jesus. What a douche. Please remind us how much bonuses increased for the top 3 execs given their masterful slash and burn strategy? Criminal mismanagement worthy of jail time.
ReplyDeleteThis is such b.s. Early retirement? Only to front loaded types like Craig Dubow and Golfman Dickey. Unless you are 62 or older or independently wealthy, the buyout makes no sense unless you know you have another job waiting. Dong take if unless you think you'll be canned.
ReplyDeletePrediction: If you don't take it now, you'll be shit-canned later...and the deal won't ever be this good again. They're going to get to their number...and you're only a number. Run, Forest, Run!!!
ReplyDeleteLayoffs? Start with the dead wood in the executive offices, that will save a lot of job of those actually do the work and perform a valuable function for the company.
ReplyDeleteWhat a pleasant way to say"you're going to get fired if you don't take a voluntary buyout". Then, if everybody takes the buyout, we're going to take additional steps to fund the costs of buyouts which probably means furloughs and additional buyouts.
ReplyDeleteSeems only broadcast and military are safe for now. USAT is next up. It just doesn't end.
ReplyDeleteNot sure about the publishing side but bonuses for all department heads on the broadcasting side go out the end of February.
ReplyDeleteThis point has been made at other times given the demographics of the layoffs, but how is this not age discrimination? Has anyone actually looked at the demo of all Gannetoids laid off since 2008 and broken down the percentage of those 55 and older?
ReplyDeleteAnd agree with the comments here that looking at millions in unearned bonuses as a possible cost-cutting strategy should be first order.
10:57, that's a big part of the problem: too much dead wood on the corporate GCI side - it's like a leisure world/country club there.
ReplyDeleteWhen I witnessed this before, that was the distinct impression I got:
ReplyDeleteIf one meets the requirements of a Gannett buyout and one does not take it, one has painted a big red target on their back superimposed over the one that's all ready there.
Never mind if one loves one's career even despite Gannett; the widget doesn't decide their future, the corporation does. And that future will be short.
They can call it "voluntary" all they want... but they can also forgo the later layoff escalation that is also an expense to the company; instead they can fire you for just about anything. Which means no transitional pay, no unemployment.
My advice is: take the buyout if one qualifies for it.
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