Massive buyouts offered in Hoboken?
I received this email from a Hoboken411 reader earlier in the week.
Roberts getting desperate?
It seems Mayor Roberts is getting desperate concerning the city’s budget. Across the board buyouts are being offered to long-term city employees available immediately in every department from PD to Sanitation. The buyout offer has become an accepted way for Roberts to trim payrolls without firing workers or confronting unions head-on. Roberts is making these offers because he believes a buyout will help Hoboken’s long-term financial health. However, he is a day late and about $15 million short! So far several employees signed off on the jump ship option before it stinks….(I mean SINKS).
How a buyout typically works
Buyouts are in some ways a classic carrot-and-stick game. The carrot is the payment you get for leaving your job. The stick is the possibility of later layoffs without any of the benefits that come with the buyout. While most employees can’t predict how their company is going to do financially, you have to think about what the future might hold for the business. You’ll want to give the buyout offer stronger consideration if you think your job security is tenuous in any case.