An early retirement offer was made today to 155 employees with at least 20 years experience at The Detroit News, Detroit Free Press and the partnership that handles their joint business operations.
“We’re expecting less than half to accept. It’s a totally volunteer program. We’re kind of excited because it will help people retire a little bit early,” said Alan Lenhoff, director of project management and corporate communications with the Detroit Media Partnership.
The offers were made to employees who were age 56 as of June 30 and had worked at least 20 years with the companies, Lenhoff said.
The offer is two weeks of salary per year of service, capped at 52 weeks, and continued health over the number of weeks each retiree has accrued under the offer, he said.
That’s in addition to whatever pension or retirement the employee may have. Staffers have 45 days to make a decision.
Lenhoff said the offers are aimed at saving money, but he declined to say how much the savings might be, or is hoped to be.
The newspapers and partnership have an estimated combined 1,500 employees, but Lenhoff couldn’t provide specifics on what category of jobs were targeted or how many offers were at which entity. He said some positions were exempted from the offer, but didn’t have a breakdown of what jobs were excluded.
He said some newsroom staff at both papers are eligible for the early retirements.
Read full article in Crain’s Deroit Business
“We’re expecting less than half to accept. It’s a totally volunteer program. We’re kind of excited because it will help people retire a little bit early,” said Alan Lenhoff, director of project management and corporate communications with the Detroit Media Partnership.
The offers were made to employees who were age 56 as of June 30 and had worked at least 20 years with the companies, Lenhoff said.
The offer is two weeks of salary per year of service, capped at 52 weeks, and continued health over the number of weeks each retiree has accrued under the offer, he said.
That’s in addition to whatever pension or retirement the employee may have. Staffers have 45 days to make a decision.
Lenhoff said the offers are aimed at saving money, but he declined to say how much the savings might be, or is hoped to be.
The newspapers and partnership have an estimated combined 1,500 employees, but Lenhoff couldn’t provide specifics on what category of jobs were targeted or how many offers were at which entity. He said some positions were exempted from the offer, but didn’t have a breakdown of what jobs were excluded.
He said some newsroom staff at both papers are eligible for the early retirements.
Read full article in Crain’s Deroit Business
No comments:
Post a Comment