'Boston Globe' Offers Buyout Package

By: Joe Strupp The Boston Globe has put forth a buyout offer to staffers that reportedly provides three weeks of salary for every year worked, up to two years worth of pay.

The offer, first reported in the Boston Herald Thursday, is open to Guild employees with at least seven years of service, while some business-side staffers must have 10 years on the job.

The buyout is the first such move by entities of the New York Times Company, which recently announced plans to cut 500 jobs companywide. Those include 160 staff cuts planned for the New England Media Group, which includes the Globe, Boston.com, and the Worcester Telegram & Gazette.

At least 35 newsroom jobs have been targeted at the Globe, with another 20 at the Telegram & Gazette, according to Al Larkin, Globe senior vice president. No other specific cutback targets have been revealed.

In addition, Times officials have announced plans to cut 250 jobs at units outside the New England Group, including The New York Times, International Herald Tribune, and NYTimes.com. Among those cuts, 45 Times newsroom jobs are slated to be eliminated. Times officials had no information on any other company buyout offers being put forth yet.

A memo from Globe Publisher Richard Gilman to Globe staffers on Wednesday indicates that the buyout offer is for Globe employees only. A copy of the memo first appeared on the Romenesko site.

The memo states that the buyout offer is available through Nov. 21, 2005.

"This staff reduction is one of the many actions we are taking in response to very challenging business conditions," the memo says, in part. "We are tightly managing expenses in all areas of the company. We are relentlessly pursuing new advertising revenue and business opportunities. We continue to implement new processes that make us more efficient."

Larkin confirmed that no other specific buyouts had been offered, but said a separate package will be put forth to Worcester employees soon. "The bulk of reductions comes through the Globe," he added. "And we hope to get most of them through voluntary reductions."

Gilman could not be reached for comment Thursday morning.

Dan Totten, president of the Boston Newspaper Guild, which represents 1,200 Globe's employees, also was unavailable. He told the Herald he was unsure that enough employees would take the buyout to avoid layoffs, but was hopeful they would.