Pacificapocalypse

Yeah I wasn’t going to post about this but…
We received a company wide email announcing a buyout program starting today, Monday, August 4th.

Dear Chronicle Guild Members:

As you may already know, Hearst management intends to reduce staff by about 125 positions through voluntary buyout packages. The packages will be similar to the last round of buyouts and will include: 2 weeks pay per year of service, with a minimum of 4 weeks to a maximum of 52 weeks; COBRA commensurate with weeks of service, with a minimum of 2 months to a maximum of 12 months and members can cash out COBRA if they choose; and uncontested unemployment benefits. The 3-week offer period is from Monday, Aug. 4 to Aug. 22, 5 p.m. Once you sign, you have 5 business days to rescind. End dates will be worked out with your supervisor or manager, but all must be finalized by the the end of the year.

This reduction will affect all departments and also include management. We will hold meetings on Monday, Aug. 4, at 1 p.m. and 5:30 p.m. in the third floor Guild Conference Room at 433 Natoma St.

We know that this a difficult time and will assist you in any way possible. Please check mediaworkers.org for the latest updates.
I wasn’t too concerned (I being an absolutely integral part of the Hearst Corporation’s long term financial plan) but today is weird, people are huddled in small groups in cube farm intersections speaking in low tones. There are these odd wondering, sideways looks from people: who’s taking the buyout? Will they get enough volunteers to avoid layoffs? You can smell the fear and desperation.
Or is that lunch? Anyway, there’s a strange vibe in the office and I don’t know which way people are going to jump. Certain managers have already indicated that they might take it, leaving the department in even more precarious straights.

Time to polish the resumé.

Stayed tuned for further developments.

UPDATE: Wow, one person in my department is definitely taking the buyout and two more are seriously considering it. All three of them have, on average, been here 20 plus years, so it makes sense.
Dame this might be serious.