Worker Buyout

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 ?
Adam Price, Plaid Cymru's Shadow Cabinet Secretary for Finance and Economy, told the BBC: "I am very concerned at the news of the suspension of the sales process and am deeply disappointed that the Walesled management and worker buyout will not be able to go to the next stage of the process.
Fears and doubts as Tata looks to merger
He added: "I am very concerned at news of the suspension of the sales process and am deeply disappointed that the Wales-led management and worker buyout will not be able to go to the next stage of the process.
Tata in talks over link-up
They pursued a worker buyout for moral, symbolic, and perhaps ideological reasons.
Steelworker Alley: How Class Works in Youngstown
The other version of spontaneous privatization, worker buyout, gives incumbent workers a stake in the new regime, but also generates discontent among the non-working population, thereby diminishing public support for this form of privatization.
Privatization and the consolidation of democratic regimes: an analysis and an alternative
worker buyout models as a way of continuing to own their factories.
Russia between the Union and the Commonwealth: new carpetbaggers and old dreams
Thus Brecher analyzes in detail the Seymour Specialty Wire worker buyout and then celebrates the Naugatuck Valley Project's coalition for economic revitalization under local control.
Building Bridges: The Emerging Grassroots Coalition of Labor and Community
The authors add that worker buyout and participation mechanisms in themselves are not a guarantee of success.
Job-Saving Strategies: Worker Buyouts and QWL
Progress on the cost side will be insufficient to offset revenue pressures in 2007 given the extended timetable for cost-reduction actions to be realized (including the hourly worker buyout program), high commodity costs, and the severe stresses in the supply base.
Fitch Lowers Ford's Senior Unsecured To 'B/RR4'; To Rate New Facilities 'BB/RR1'
There is also the possibility of a management and worker buyout if other purchasers do not come forward.
For sale, but what happens to the PortTalbot site now? The formal sale process for Indian steel giant Tata's UK businesses has begun. But now the serious talking begins, can we expect to see a successful sale and if so, will any buyer take on the whole business or will it be broken up?
Tyrone O'Sullivan was one of the leading figures 11 years ago in the worker buyout of Tower Colliery when miners each put in pounds 8,000 in redundancy money to buy the pit.
'The worst thing about this kind of accident is that people go to work then, that's it
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.
Labour double-talk; Your shout
Wales has had a good experience when it comes to worker buyouts, the legendary takeover of Tower Colliery by Tyrone O'Sullivan and his team a particularly good example.
WAY OUT WEST
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