By: E&P Staff The Plain Dealer in Cleveland today announced a voluntary employee buyout plan, one day after the Dallas Morning News said it was seeking 85 newsroom cuts via the same route.
Editorial and business office workers 50 and older with at least 20 years' service are eligible for a payment equal to 2-1/2 years of salary, the Plain Dealer revealed this morning. Other employees, of any age, can receive two weeks' pay for each year of service. Workers taking the buyouts keep certain benefits. Employees have two weeks to ask for more information and 45 days after that to decide whether to take the buyout.
In a written statement, Plain Dealer Publisher Terrance C.Z. Egger said
"In order to be as efficient as possible and to continue to provide our readers and advertisers with a high quality newspaper, we need to adjust our expenses to coincide with our revenue. We are pleased to show our respect for and recognition of our employees with an extremely attractive program. This program is completely voluntary and we are proud to reward The Plain Dealer's long-standing employees with an opportunity for financial assistance as they make a very personal decision."
Egger took over as publisher of the newspaper just this past spring, coming from the St. Louis Post-Dispatch.
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