Massive buyouts offered in Hoboken?

6/14/2008:

I received this email from a Hoboken411 reader earlier in the week.

hoboken-mayor-roberts-offers-buyouts.jpg

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.

Leave a Reply

6 Comments on "Massive buyouts offered in Hoboken?"

bradykp
Member
bradykp

if this is a way to reduce the police force, even if it costs more today to save money over the years….i say go for it. maybe they can sell off some of their police cars too!

escaped68
Member

From what I was led to believe the so called buy out is always available for the differen agencies. Its up to these agencies to offer the buy out to its employees. Most of the times it is offered to those over 55 or with 25 years on the job. The benefit section of the buy out varies from place to place. In the public sector its nothing more then a smoke and mirror ploy, its a halfass attempt to look good in the tax payers eyes, but really nothing changes.

Katie_Scarlett
Member

[quote comment=”87898″]That’s a good question taxed to death. Roberts sent this buyout thing up the flagpole to the council last November and they asked for financials that show it would actually save money.
As usual, Davey had none and when questioned by Jon Gordon and Beth Mason about this Dick England admitted it probably wouldn’t save much money. Jon said studies show buyouts actually cost more money than they save.
[/quote]
Shocking, Dave Roberts wants to spend more money to “save” money. What a dofus. I’m glad the council had the foresight to ask for proof of actual savings, but I’m not surprised that Dave doesn’t care and is just going to try to go ahead and push this through anyway.

DISGUSTING

Red Haven
Member
Red Haven

That’s a good question taxed to death. Roberts sent this buyout thing up the flagpole to the council last November and they asked for financials that show it would actually save money.
As usual, Davey had none and when questioned by Jon Gordon and Beth Mason about this Dick England admitted it probably wouldn’t save much money. Jon said studies show buyouts actually cost more money than they save.

Most senior people at city hall are looking for LaBruno/Gagliardi type buyouts that the city can’t afford before they would ever agree to retire early.

I would think the council would have to approve a buyout plan, but who knows? This is Hoboken. Nothing surprises me anymore.

taxed_to_death
Member
taxed_to_death

Can McFatass offer buyouts on his own authority? Please tell me it requires City Council approval. Even if it’s a lie, tell me that so I’ll feel better for a little while. God, I hate these people.

wpDiscuz