New York Daily News Buyouts Packages: Who's Taking, and Who's Getting Targeted
The New York Post's Media Ink columnist Keith Kelly almost gleefully reports today on the New York Daily News staffers (except for editor-in-chief Martin Dunn) reportedly being handed buyout offers early this week and late last week.
Chris Rovzar at Daily Intel hears the package is one week's pay for every six months staffers have been with the paper, while Kelly heard that the package is one week for every year. We hear Rovzar's account is the accurate one.
Furthermore, we've heard that the packages are intended to target copy desks, feature writers, and older reporters, and that it's safe to assume that if the buyouts aren't taken by the May 28th deadline - and right now, "nobody" is contemplating taking the buyout packages - they'll also be the first ones targeted for layoffs.
That said, it's also fairly early in the process. And given the nature of comments like this, which popped up pretty quickly on Daily Intel's post after it went up...
trust me dude if it's your third round of being offered, take it. the next round is being let go with no pension or help whatsoever. you'll land. cut your sentimental ties now, take it and move on.
That situation is likely to change as this process moves forward. Previous to this, the Daily News tried sending out buyout packages in 2008. They've recently cut pay on brass and anyone not covered by collective bargaining agreements, and also eliminated 401K matches in 2009.