Globe offers voluntary buyouts to employees

The Boston Globe's publisher announced today that the newspaper will be offering voluntary buyout packages as part of a broader cost-cutting effort.

The Globe is looking to cut 60 positions; the Worcester Telegram & Gazette will cut 20 positions. Boston.com will be excluded from the buyout offer. The publisher said the company would "continue to invest in this growing area of the business."

Employees will be offered two weeks pay for every year of service, with a cap of one year's pay. Those Globe employees with lifetime job guarantees will be offered three weeks pay per year of service, capped at two years' pay.

Publisher P. Steven Ainsley said in a memo to the staff, "This reduction in staff is a difficult but necessary step toward our ongoing goals of reducing costs and finding efficiencies that allow for the long-term health of our business."
(By Beth Healy, Globe staff)