City of Toronto Buyout

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.


Join the conversation Load comments

Latest in City

Overcrowding turns nasty on the King streetcar line

Rental of the week: 930 Dundas Street West

Experts say Toronto home prices will just keep going up

You can now call and text on the TTC subway but there's a catch

Toronto temperatures expected to dip to -27C

House of the week: 18A Westmount Park Road

Toronto's new subway line is all lit up and ready to go

It's going to feel like -20C in Toronto tonight