“CBS Corp. is encouraging its veteran employees to retire early with buyout offers that started to go out last week,” L.A. Biz reports. “The voluntary buyouts are being offered to longtime workers whose age plus the number of years they have worked for the company totals 80 or more years.”
The Miami New Times reported that the buyouts were being offered to hundreds of employees nationwide, across multiple divisions. New Times noted that 20 employees at local station WFOR-TV had received offers.
The New Times report said CBS offered some employees two weeks of severance pay and medical coverage for each year they’ve worked for the company.
L.A. Biz adds: “The move comes on the heels of a similar offer that HBO made to its longtime employees last week. In that case, the voluntary retirement packages were offered to older workers who had been with the company for a decade or more.”