Things aren’t well at the CA.
Here’s a recent memo from the editor, Mark Russell:
From: Mark Russell
Date: October 23, 2018
Re: Early Retirement Opportunity Program
The Commercial Appeal is offering an Early Retirement Opportunity Program (“EROP”) to eligible Guild-represented employees in the newsroom. The terms and conditions of the offer are:
The EROP is a completely voluntary program and employees are eligible to participate if they will have attained 55 years of age and completed 15 years of service with the company as of December 31, 2018.
Severance is 30-35 weeks’ pay based on years of service, payable in a lump sum.
Transition bonus of $4,500 – $5,520 based on years of service, payable in a lump sum.
The company has the sole discretion to accept or reject volunteers.
Employees will be required to sign a “waiver and release” drafted by the company.
The EROP is in lieu of, and not in addition to, any contractual retirement or severance benefits that employees may be otherwise entitled.
Any disputes involving the EROP are not subject to the contractual grievance and arbitration procedure.
Time is of the essence. We, therefore, ask that that you sign and return this document to me within 48 hours. I’m available to meet with you today and answer any questions, or discuss this with you, within the 48-hour window.
This is a move organizations take when they’re not doing well.
The sooner, the demise, the better is what many of us think.
So does the delightful Kurt Schlicter who had this to day on Rebel Media: