QOD
If you take a buy out (1 week’s pay for every year worked up to 26 for example), do you still qualify for unemployment insurance?
It is a question you might need to know that answer to if you work for the News Journal.
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I don’t know but I don’t think so.
Nobody’s being offered buyouts at The News Journal. The offer on the table is:Volunteer to be terminated and get a week severance for each year or wait around to find out if you’re on the list of people who are getting cut involuntarily, and still get a week for each year. Gannett announced that a 10 percent payroll cut was coming a couple of weeks back. The “volunteer” offer followed, but the company’s goal is to eliminate jobs and cut 10 percent of the payroll. Nobody knows how that will translate into real people yet. The News Journal already has been through two previous buyout rounds, scattered layoffs. It’s happening to thousands at Gannett companies around the country, including Salisbury, and thousands more at other papers and media organizations.
Since the employees ‘ jobs are being eliminated, people who don’t jump to other jobs before the severance ends presumably qualify for unemployment after the last check. Not the same as a buyout, I don’t believe.
Severance and Unemployment Insurance are separate. You can get UI with Severance. As a matter of fact it is a little like winning the “middle class lotto”.
does this mean you are going to be asking Rong Williams to join our already crowded blog now too
mightknow:
There was one round of buyouts this summer, followed by some layoffs. When was the first round of buyouts you allude to?
When I was laid off from DuPont Pharmaceuticals after 22 years of service, I received a week pay for every year of service. Sounded like a great deal to me!!! That was until I went to the unemployment office, I was told I would have to wait 22 weeks until I could collect in Delaware. However, those who lived and applied in MD and PA were able to collect immediately. Luckily I found a job right away in the genomics segment and never needed to collect. Lost that job after 3 years because the company moved to Colorado. Both jobs were lost due to the Minner/Carney administration. Thanks for that!