Gannett Offers Buyouts to Newspaper Employees

by Gabe Bullard on February 9, 2012

Forty-two Courier-Journal employees are being offered buyouts in exchange for early retirement as part of another round of cost-cutting at the paper’s parent company Gannett.

Across all of Gannett’s newspapers, 665 employees will receive buyout offers. The employees must be more than 56-years-old and have 20 years of service with the company. Those who accept the buyouts will receive two weeks of pay and benefits for each year they’ve worked for a maximum of 52 weeks.

In Louisville, the Courier-Journal says 42 employees have been offered buyouts, and only 20 will be accepted. The employees are in various departments, including news and editorial. All questions about the buyouts have been deferred to Gannett headquarters in Virginia.

Last year, the paper laid off 50 employees. Mandatory weeklong furloughs have persisted for years. This is the first buyout offer since 2008.

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