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Topic: Memos Sent to Romenesko
Date/Time: 11/1/2006 4:45:58 PM
Title: Memo from San Diego Union-Tribune CEO Gene Bell
Posted By: Jim Romenesko
 
November 1, 2006
To: Union-Tribune Employees
From: Gene Bell

As you know, this has been a challenging period in the newspaper industry. Many other publishers have found it necessary to reduce expenses, and the Union-Tribune has already undertaken a number of steps to control costs. The time, unfortunately, has come for us to take more direct action to reduce our payroll. We have explored various options for realigning our workforce to meet the reality of the marketplace. One option that we have decided to implement at this time is a Voluntary Retirement Incentive Program for employees who have 30 years or more of service to our organization as of October 1, 2006 (excluding employees working in sales and those represented by a bargaining unit).

Today, these employees were each offered a voluntary retirement incentive package equal to 18 months base pay. The package also includes up to 12 months paid medical, dental and vision insurance for the employee and eligible dependents. The employees have up to 45 days to decide whether they want to accept the incentive. We value the many years of service each of these 67 employees have given us and thank them for all they have contributed, and continue to contribute, to make this the successful company it is today.

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