Newsweek Offers Buyouts

newsweek-cover.jpgNewsweek has offered buyouts to 30 employees as of this morning, reports Yahoo!’s Joe Pompeo. The package, according to New York guild president Bill O’Meara (who is in the news a lot today), amounts to “a minimum of four months pay if they accept, plus some extra money on top of that.”

The good news: “This is a purely voluntary buyout,” said O’Meara. “There’s been no discussion with the company about layoffs if they don’t get a certain number of buyouts. A lot depends on what happens down the road, and we’re all hoping that Tina Brown will make it successful and there won’t be a need for reductions down the road.”