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Wed July 25, 2012
Detroit newspapers offer employee buyouts
DETROIT, MI (AP)-- Buyouts are being offered to employees at The Detroit News, Detroit Free Press and the company that manages their finances.
Detroit Media Partnership spokesman Alan Lenhoff says 155 people qualify but less than half are expected to be approved, depending on interest and their department. The offer covers people who are at least 56 and have worked there at least 20 years.
The offer is two weeks of pay for each year of service, with a 52-week cap, plus health insurance during that time. There's a 45-day deadline to decide. Lenhoff won't comment on whether the number of buyouts could affect the status of remaining staff.
Gannett Co. owns the Free Press, which has an average weekday circulation of 233,000. MediaNews Group owns the News, whose weekday circulation averages 134,000.