Tuesday, September 14, 2010

National Post offers employee buyouts

Slashing new moves at the National Post to turn the paper into something profitable. Note that while everyone may apply for the buyout, the company will not necessarily accept. Someone has to write the paper. The company memo follows:
"The structural changes and issues facing our industry are causing us to review our operations and processes. Our industry has changed, and so must
we. Our focus is to improve the efficiency of our operations, reduce our costs,
while positioning ourselves for the future. Labour is our single largest cost.
In an effort to bring our cost structure in line with a changing business model,
we are offering a voluntary buyout program to National Post
Details of the National Post Voluntary Buyout Program
3 weeks of base
salary, multiplied by the employee’s years of service, to a maximum of 78 weeks and $125,000 dollars. Payments will be made
as a lump sum with applicable deductions. Benefits cease on last day worked.
While all employees may indicate their interest to participate in
this program, acceptance to the program is at the discretion of management.
Deadline for application is Friday September 17th, 2010. If you are
interested in being considered for the Voluntary Buyout Program please submit
your application to Human Resources by 4 p.m. on September 17th,
Kind regards, Cheryl, Human Resources"

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