In a voluntary buyout offer, you pay your most able employees, the ones who can get another job immediately, to leave.
You are left with the rest.
http://www.contracostatimes.com/business/ci_8478984
Newspaper layoffs averted with buyouts
By George Avalos
STAFF WRITER
Article Launched: 03/06/2008 03:04:37 PM PST
WALNUT CREEK - The operator of this newspaper and numerous others in the Bay Area will reduce its staff by 10 percent, but was able to avoid outright layoffs by achieving the job cuts entirely by voluntary buyouts.
The buyouts will be given to 107 employees out of 1,100 workers. The reductions will be company-wide and will affect every department, including the newsroom.
The staff reductions involve 23 Bay Area daily and weekly publications, including the Contra Costa Times and Oakland Tribune, the company said Thursday. The papers are operated by Bay Area News Group-East Bay, also known as BANG-East Bay.
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http://www.politico.com/blogs/michaelcalderone/0308/LA_Times_buyout_list_is_oversubscribed.html
March 06, 2008
Read More: Newspapers
L.A. Times buyout list is “oversubscribed”
New L.A. Times editor Russ Stanton and publisher David Hiller will address D.C. bureau staff tomorrow, according to a source.
It’s an important damage-control meeting, coming on the heels of Sam Zell’s tumultuous encounter there with reporters and editors. Today, Stanton met with some bureau staffers but will formally address the group — with Hiller — at 10 a.m Friday.
Buyouts are sure to be on the agenda, especially since an L.A. Times staffer tells me the program is “oversubscribed.”
On Wednesday, an informal list was floated on LAObserved, but according to a staffer, there will certainly be changes to it, since the L.A. Times higher-ups will try to retain some staffers, while letting go others not on the list. In addition, the Tribune folks in Chicago will probably weigh in before anything is completely settled on the buyout.
“They’re trying to hold the bureau together,” said an L.A. Times staffer, who added that a number of reporters and editors have been entertaining offers since Zell’s expletive-laden visit.
D.C. bureau chief Doyle McManus had referred to the Zell meeting as a “suicide bombing,” as I reported last week, and the impression I’ve gotten from several staffers in recent days is one of demoralization.