Worker Buyout

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Worker Buyout

A situation in which an employer pays a (usually large) fee to an employee in exchange for that employee's resignation or retirement. Despite the upfront payout, a worker buyout usually is less expensive over the long term than keeping the employee on staff. As such, worker buyouts are sometimes used in lieu of layoffs.
References in periodicals archive ?
airline, Delta Air Lines (NYSE: DAL) announced plans to trim its capacity by 5% post Labor Day and offered worker buyouts for the first time since 2009.
In fact it means a range of potential providers, including co-operatives and social enterprises as well as private providers, worker buyouts and voluntary sector agencies.
From 1989 to early 1990, the strategy of spontaneous nomenklatura (Communist Party managers) or worker buyouts predominated in Hungary and Poland.
Clearly, the spontaneous privatization techniques of nomenklatura and worker buyouts have opposing effects on the transition to and the consolidation of democratic regimes.