ECONOMY
Buffalo News offers new round of employee buyouts
A second round of buyouts involving about 300 employees at The Buffalo News is being offered this week because of tough economic times, a News executive said Tuesday.
The buyout initially was offered to about 110 workers last fall. Employees who accept the offer will receive a minimum of $60,000, but the amount increases based on the number of years of service and salary level.
While 300 employees are being offered the buyout, Dottie Gallagher-Cohen, senior vice president at The News, pointed out that in the previous round, only about a dozen workers chose to accept it.
“In these difficult economic times, we are looking at every way we can to become a more efficient operation and reduce our expenses, and this is one of many steps we’ve taken to remain viable,” Gallagher-Cohen said.
The deadline for employees to accept the offer is Feb. 27; those who accept the offer would be off the payroll by March 31.
