Still For Sale, Austin American-Statesman Offers Early Retirements

 

AUSTIN, TX (January 29, 2009) – The Austin American-Statesman, one of Cox Enterprises Inc.'s newspaper properties that's currently up for sale, is offering a voluntary early retirement program for employees 55 or older.

"During this time of economic difficulty, businesses are finding ways to operate more efficiently, and we are no different," the newspapers publisher Michael Vivio said.

Workers with 10 years of pension vesting service with Cox are eligible to apply for the opportunity. Retirement would begin April 1. There are 906 full-time and part-time Statesman workers, the newspaper reported today.

Statesman managers said the early retirement offer is unrelated to Cox Media Group's efforts to sell the paper. During the next few weeks, up to five groups of potential buyers are scheduled to tour the Statesman to see a presentation of the Austin property.

Among the rumored potential buyers are the Stateman's retired former editor Rich Oppel, former Austin mayor Roy Butler, and newspaper veteran Chris Harte, publisher of the Minneapolis Star Tribune (which filed for bankruptcy in early January).

 

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