News-Leader parent company to buy out 665 employees

Gannett is taking at least a momentary turn from its recent policy of holding down costs with two weeks of unpaid furloughs per year, by buying out 665 employees at its small newspapers, including the Springfield News-Leader:

In the past, the company has been more likely to ax employees but let each paper handle it on a case-by-case basis.

There are potentially 785 employees eligible for the enhanced package — offered to employees at least 56 years old with at least 20 years of service. They’ll get two weeks pay for each year of service, capped at 52 weeks, according to an internal memo yesterday.