Los Angeles Times Severance to Union Employees

The Company has notified the Union that 63 bargaining unit members in the press room will be laid-off in inverse seniority.

The Company and the Union met on February 4th, 5th, and 6th regarding these staff reductions and impact of those reductions, specifically severance packages.

The Union was offered the option of selecting between two severance packages:

• Option A: One week for every year of service with a maximum payment of 4 weeks to be paid in a lump sum provided that the employee signs, and not revoke, a release and a waiver pursuant to the Involuntary Severance Plan; no benefit continuation; WARN offset (if employee is requested by the Company to terminate employment prior to the WARN leave period); and pay for earned and unused sick time.
  
• Option B: Same terms as Option A; however, instead of 4 weeks maximum, the Company will pay severance one week for every year of service with a maximum payment of 8 weeks. In exchange the Union must withdraw and dismiss with prejudice all pending grievances and unfair labor charges;

This offer will expire at the close of business on February 25, 2009