Newsweek Offers Golden Handshake to 10% of Staff
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Associated Press
NEW YORK — Newsweek magazine is offering early retirement to 10% of its work force because of higher costs and a shrinking advertisement base, a spokesman said today.
“The program is entirely voluntary,” said spokesman Gary Gerard, and it includes pension enhancement and continuation of some insurance benefits. He said 100 employees--those with 25 years or more of service or those age 55 and older with 10 years at Newsweek--got letters detailing the offer.
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