Question: How rich is their severance package?

You know they didn’t send these 100 well-paid and very well-informed (uh-oh!) executives packing without two likely send-offs:

1. A gold-plated severance package, no doubt more generous than the one week per-year-of-service given to the 600 payroll clerks, reporters and other lower-level employees laid off last month.

2. Their signatures, on a document that includes non-disparagement language. That means they won’t share all the naughty things they’ve seen, read, heard and done, during the collective hundreds of years they worked for Gannett. After all, these are the folks who know where all the bodies are buried.

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9 Responses to “Question: How rich is their severance package?”

  1. Anonymous Says:

    In our town, they got buyout packages similar to what other staff got earlier. 2 wks pay for each year worked in gannett, continued health coverage during severance, and pro-rated bonuses.

  2. Anonymous Says:

    I know and work with some of the “executives” who lost their jobs today. I hope no one thinks all of these folks have tons of money and are grabbing golden parachutes. Some are folks who can’t take their severance checks and head off to Europe, like some have.

  3. Anonymous Says:

    I would agree with the above, many of these positions, although called ‘director’ – are no better than a manager position. In some of the smaller markets, they’re losing a circ director making $50k – and s/he is getting the same deal given to the 600.

    Now, I have no idea what the OC made in Westchester, but my guess is a bit more than the circ guy in Sheboygan.

  4. Anonymous Says:

    How does Gannet get by with having a corporate dictating cuts, a centralized human resources but seemingly vastly different severance agreements?

    Also 8:49, did you have to sign an anti disparagement agreement?

  5. Anonymous Says:

    Gannett’s HR department is almost non-existent, incompetent and ineffective. They are there to prevent litigation and enforce grading standards. They’ve done nothing worthwhile for employees or the company since the days of Madelyn Jennings.
    just try getting an updated or accurate pension statement from them.

  6. Anonymous Says:

    Speaking of pensions, has anyone found the IRS 5500 from 2007 yet? That’s the form that details pensions, health plans, 401K and employee assistance.

    The last one I could find for Gannett’s pensions was 2006. You can see them on a site called FreeErisa. Interesting stuff.

  7. Anonymous Says:

    Re: Anti-Disparagement agreement. No, I was not asked to sign one.

  8. Anonymous Says:

    About non-disparagement language—has Gannett had occasion to try to enforce one of those agreements, and if so, what happened? anyone know?

  9. Anonymous Says:

    Would it violate the non-disparagement agreement for the former veeps to join in Jim’s blog and leave their views here? Or is this a non-disparagement-agreement-zone?

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