IGM to offer new round of buyouts.
In our pre-bargaining kick-off meeting with owner Gerry Lenfest and senior management, Mr. Lenfest said, “negotiations with the Guild are critical for sustainability at the company.”
Mr. Lenfest then announced that tomorrowmorning the company will offer a buyout to newsroom employees with 25 or more years of service and non-newsroom Guild employees with 35 years or more of service. At this time Guild members in advertising are not eligible.
The buyout will be for 40 weeks of base pay and 6 months of medical. At this time there are no plans to include management in this buyout offer.
If the Guild does not reach the number of buyouts the company says it needs, Mr. Lenfest said there could be layoffs.
The first official contract bargaining session is scheduled for the week of Nov. 17.
Howard Gensler, President
Bill Ross, Executive Director
The Executive Board of Local 38010/TNG-CWA