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The Honolulu Advertiser
Posted on: Friday, June 22, 2007

Advertiser offers voluntary buyouts

Advertiser Staff

The Honolulu Advertiser is offering voluntary early retirement packages to employees 55 and older with 20 or more years' experience.

The company is looking to reduce its workforce by 30 positions.

President and Publisher Mike Fisch announced the offer in letters to The Advertiser's 576 full-time employees yesterday, citing the softening of the Hawai'i economy and changes in the newspaper industry.

"As you are no doubt aware our industry is changing rapidly and although we are adjusting and benefiting from the changes in technology with our new digital products, we need to adjust our operating plans to match the new market realities," Fisch said.

Fisch said he hopes to have the voluntary retirements in place by Sept. 1.