INDEPENDENT Newspapers is offering more than half of its printers an opportunity to take early retirement, writes Padraig Yeates. In a redundancy deal similar to that offered by the ESB in its restructuring plan, printers have been offered a lump sum plus weekly payments equivalent to 50 per cent of full pay until they reach 65.
The deal targets those aged 55 plus who include 34 of the 61 printers working in the pre press area. They would receive £30,000 plus half pay until they reach 65. The lump sum reduces for older workers on a sliding scale. For instance, a worker aged 60 would receive only £12,000, plus half pay.
But when the lump sums and half pay are taken together, those accepting the redundancy package would be only £50 a week worse off, on average, than if they remained at work.
Commenting on the deal Mr David Palmer, managing director of Independent Newspapers (Ireland), said yesterday: "This is a responsible employer trying to meet the twin needs of competing with UK imports on level terms and meeting our obligations to employees."