Gannett Voluntary Buyouts

[Woody Long]

I have it from multiple sources that voluntary buyouts were mentioned in yesterday's employee townhall. Apparently the details are TK on Monday (or so). If anyone has further details on the package, post them here.

 

[Severian]

Do you have additional background information about the buyouts? What did management say during the townhall?

 

[Tarheel316]

I have it from multiple sources that voluntary buyouts were mentioned in yesterday's employee townhall. Apparently the details are TK on Monday (or so). If anyone has further details on the package, post them here.

What do you mean by TK?

 

[Woody Long]

What do you mean by TK?

To come, sorry, that was editor shorthand at a number of shops where I used to work.

Severian, I was not on the town hall call as I'm no longer employed by Gannett. What I've been told is that they announced that a round of voluntary buyouts is coming with details to be announced soon.

 

[User 150927]

But I thought Gannett that had dedicated itself to hiring more people this year?

 

[Woody Long]

But I thought Gannett that had dedicated itself to hiring more people this year?

Yup, the part they didn't mention was that they'd be hiring people at lower salaries to replace those bought out! Classic suit doublespeak!

 

[wicked]

How long does it take for the buyouts to become non-voluntary? Over-under: a week.

 

[bumpy mcgee]

I was in and out of it yesterday, but yes they did announce buyouts coming soon. No exact numbers given, but packages similar to past offerings are the plan. I am not sure what Gannet's past offerings were but GateHouse's were not great.
Anyway, I took tomorrow off to dedicate toward job hunting.

 

[sgreenwell]

I was in and out of it yesterday, but yes they did announce buyouts coming soon. No exact numbers given, but packages similar to past offerings are the plan. I am not sure what Gannet's past offerings were but GateHouse's were not great.
Anyway, I took tomorrow off to dedicate toward job hunting.

I think in late 2017 / early 2018, Gatehouse was offering one week severance for every year you had worked at the company, full-time. Since that would have given me a whopping "less than one week" at the time, I didn't jump at it. Three people took it, none of their positions were filled, and, over the next six months they cut another six or seven people.

So yeah - Not that you need another reason to have an updated resume on you, if you're still in journalism in 2020... But if they're offering, it's probably a sign another wave of layoffs is coming. (Also might want to make sure you use as much of that sick and vacation time as you can.)

 

[FileNotFound]

GCI Q3 earnings to be announced Oct. 29.

 

[BurnsWhenIPee]

I think in late 2017 / early 2018, Gatehouse was offering one week severance for every year you had worked at the company, full-time. Since that would have given me a whopping "less than one week" at the time, I didn't jump at it. Three people took it, none of their positions were filled, and, over the next six months they cut another six or seven people.

So yeah - Not that you need another reason to have an updated resume on you, if you're still in journalism in 2020... But if they're offering, it's probably a sign another wave of layoffs is coming. (Also might want to make sure you use as much of that sick and vacation time as you can.)

The Gannett ones that I remember from 2015 through about 2017-18(?) were pretty similar. One week severance per year of service, plus the continuation of health insurance, and capped at 26 weeks. I think at least one of those offers, and maybe more, required you to file for and collect unemployment, and the severance just bridged the gap between the unemployment benefits and the salary you were receiving while a FT employee. I believe if you landed another job and therefore the unemployment stopped, the severance stopped, too. Though I may be mixing up the buyout offers and what laid off workers received.

And I remember the buyout offer letters included very thinly-veiled threats that anyone who is eligible (based on a minimum number that combined age and years of service) who did not accept the buyout is a candidate to be laid off with no severance at all.

****ing assholes.

 

[rtse11]

This is what I get for skipping the town halls to do what I like to call "work"

 

[Liut]

Woody, just want to tell you every time you post I get a kick out of Ed Belfour-the drunkard. That's all. Carry on.

 

[Baron Scicluna]

The Gannett ones that I remember from 2015 through about 2017-18(?) were pretty similar. One week severance per year of service, plus the continuation of health insurance, and capped at 26 weeks. I think at least one of those offers, and maybe more, required you to file for and collect unemployment, and the severance just bridged the gap between the unemployment benefits and the salary you were receiving while a FT employee. I believe if you landed another job and therefore the unemployment stopped, the severance stopped, too. Though I may be mixing up the buyout offers and what laid off workers received.

And I remember the buyout offer letters included very thinly-veiled threats that anyone who is eligible (based on a minimum number that combined age and years of service) who did not accept the buyout is a candidate to be laid off with no severance at all.

****ing assholes.

I had the PTT, or whatever it was called when Gannett laid me off 10 years ago. It was as you described, where for one week per year that you were there, they would pay the difference between unemployment and your salary. So, if you were making $700/week and got $350 in unemployment, they would pay the other $350 for one week for each year that you were as there.

As I recall, insurance was for a length of time, but I don’t remember how long, then you could go on COBRA.

Of course, if you weren’t eligible for unemployment, you got nothing.

**** Craig Dubow.

 

[Shropshire Slasher]

Better make sure when they start counting in terms of service. GateHouse just bought Gannett last year and bought numerous other chains leading up to that. So if you worked for a legacy GateHouse paper, your clock might not have started ticking until last year.

If you worked for, say, Rockford, which was Gannett, then sold to GateHouse, then became Gannett again, the question is a little cloudier.

 

[Fredrick]

Wouldn't that be great if someday everybody on a major metro Gannett sports staff took the buyout and the suits had to cover sports until they got 25,000 dollar a year replacements?

 

[Mr. X]

 

[Woody Long]

Wouldn't that be great if someday everybody on a major metro Gannett sports staff took the buyout and the suits had to cover sports until they got 25,000 dollar a year replacements?

It'd be amazing to see some dopey features editor who's idea of good journalism is a 700-word review of a hipster artisan pizza restaurant have to spend 15 hours at a ballpark, churn out four stories and a video, and then have to do it again the next day.

Also, Liut, you can see the bodycam footage of Eddie's run-in with the Louisville PD here: https://dailymail.co.uk/news/article-7991173/Bodycam-footage-shows-drunk-ex-NHL-goaltender-Ed-Belfour-54-sprawled-hotel-floor-1am.html

I liked covering Ed Belfour. He's a smart guy and a hard worker. He knows more about goaltending equipment and skates and how to use them to improve his game than a lot of equipment managers and product reps. But he's definitely got a few screws loose.

 

[PaperClip529]

Wouldn't that be great if someday everybody on a major metro Gannett sports staff took the buyout and the suits had to cover sports until they got 25,000 dollar a year replacements?

They would never allow an entire sports department to take a buyout.

 

[BurnsWhenIPee]

Exactly, Paper. That's why the sweeping generalizations and delusions of big Norma Rae-type revolts that … some … on here throw out there are so silly.

First off, if it's like past buyout options, not everyone is eligible or gets the offer. They typically give some sort of minimum standards, like at least 50 years old and have been with the company for at least 15 years. There's no way an entire sports staff would qualify under that. Then, you can apply for the buyout, but that doesn't guarantee you'll get it. If too many people in a department qualify and apply, they won't give it to everyone. At least that's how it went in 2015 when I had a first-hand look at it.