The Baltimore Sun Co. yesterday announced a voluntary buyout package that could apply to about 1,200 of the publishing company's 2,000 full-time employees.
In an effort to reduce its work force, the company offered to pay eligible workers up to 15 months of their current salary, depending on seniority, and to pay for the majority of their health benefits for a certain period if they choose to resign by Jan. 7.
In a notice to employees, publisher Michael J. Davies said that the offer was a response to the recession and the declines in advertising revenues in the past two years. "We have seriously considered layoffs as a means of reducing the staff," Mr. Davies said in the notice. "However, we have decided first to pursue a path that, while more expensive, is more humane and less traumatic. . . .