Tribune To Shrink Severance Packages

Tribune Co. attorneys announced today that they won approval from a judge to change the companies non-union severance policy. The changes would apply to future layoffs, like the ones coming to the LA Times any day now. Under the new policy employees laid off by Tribune Co. in 2009 will receive two weeks pay for the first year of employment and one week for each additional year worked. That’s half the standard amount given to those laid off in 2008, whose severance was a weeks pay for every 6 months worked.