‘A Bunch Of Us Are Updating Our Resumes Today’: Saltwire Offers Employee Buyouts

HALIFAX–Many Saltwire Network employees are worried about job security today, after the Halifax-based newspaper company sent out an internal memo regarding a “voluntary departure program.”

Employees who have been with the company at least two years can apply to have their job terminated with a severance package: 1.5 weeks of pay for each year they have been with the company, with a maximum payout of 39 weeks.

Those interested in the program have been given until December 17 to apply. The company says they will contact applicants by December 31 about whether or not their application for a buyout was approved.

In the memo, the company talks about “shifting needs” as it works towards becoming a more digital-based entity. But it doesn’t mention whether or not this program is being offered due to financial pressures.

“As we continue to pivot from a traditional newspaper company to a digital media company, we must continually reassess our business and make changes to help achieve success,” reads the memo.

“Our needs are shifting, our processes are changing, and roles and responsibilities are evolving. The speed of change in media companies is much faster than with other industries, therefore if we want to stay relevant, we need to transform.”

One Saltwire employee, speaking on the condition of anonymity, says there is worry that involuntary layoffs are coming soon.

The fear may not be misplaced; just a year ago Saltwire laid off 109 employees, 61 of which were from Nova Scotia. At the time, the company linked the layoffs to plunging ad revenues caused by the Covid-19-pandemic.

“A bunch of us are updating our resumes today,” said the Saltwire employee. “I don’t know if my job is safe or not; I have no idea.”

The employee said some of their colleagues are considering taking the buyout even though they would rather stay with the company.

“They see it as writing on the wall. They see it as a chance to at least get some severance, rather than getting laid off a few months from now,” said the source.

Saltwire is also offering employees the option of taking shorter work weeks on a volunteer basis. If employees shift to a three- or four-day work week, according to the memo, they will receive a prorated salary.

“Shorter workweeks are becoming more common, with some businesses opting for fewer workdays each week and others choosing fewer hours per day,” states the company memo.

“The three or four-day work week is designed to offer employees flexible hours and a better work-life balance. The reduced work week also allows employees to reduce their working hours or reduce their workload over a period of time rather than switching from full time employment to retirement abruptly.”

Derek Montague is a Huddle reporter in Halifax. Send him your feedback and story ideas: [email protected].