City of Toronto offers buyouts to almost 50,000 workers
In yet another measure to reduce the 2012 budget, the City of Toronto has offered buyout packages to almost 50,000 of its workers, who have until September 9th to apply online for what's being called the Voluntary Separation Program. According to a memo obtained by the Globe and Mail, union members are eligible for three weeks pay for each year they've been employed by the city up to a maximum of six months salary. Those who hold management positions are offered four weeks of pay per year.
In an effort to extend the cost savings of the program in the long term, should an employee take the offer, his or her position will eliminated permanently. How exactly this provision will play out if scores of staff participate in the program remains unclear. As Councillor Kristyn Wong-Tam noted on Twitter last night, "A city can't work without city workers!"
City Council will vote on the buyout packages in late September.
Photo by squirrel brand in the blogTO Flickr pool.