May 1, 2009

Buyouts and wage cuts in Syracuse

The Syracuse Post-Standard, which is part of the Newhouse chain, is offering a generous buyout plan to eligible employees and cutting the wages for everyone who stays at the paper. From the paper's own story:

Editor and Publisher Stephen A. Rogers, who announced the measures in staff meetings, offered a buyout of a year's pay to employees with at least seven years of full-time experience. For all remaining employees, pay will be reduced July 1 through the end of the year by a range of 5 to 12 percent, depending on pay levels. Highest-salaried people will get the steepest cuts. In addition, all employees will begin to contribute 25 percent of their health care coverage costs.

The cuts come on the heels of 10 days of involuntary furlough announced last month.

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