(AP) The Cincinnati Enquirer is offering voluntary buyouts to reduce the newspaper’s payroll.
President and Publisher Harry M. Whipple made the offer Monday in a letter to employees, describing it as an early-retirement program. The offer was made to nonunion, full-time employees who are at least 59 and would have at least 10 years of service with the newspaper by Feb. 28. They have 45 days to consider the offer.
About 30 of the newspaper’s 1,000 employees are eligible, Whipple said Wednesday. The newspaper does not have a specific goal for the number of buyouts to be accepted, he said.
The Enquirer‘s staff has worked hard to keep operating costs in check during the recession, even while newsprint costs have increased, he said.
“We must further reduce our payroll expenses for the remainder of this year,” he wrote in his letter. “We are confident many individuals will find the enhanced early retirement program attractive. However, if we do not save enough hours through this program, we will seek reductions in other ways.”