Best Buy Offers Health Coverage to Employees Who Accept Buyouts
The company did not specify whether it would also provide dependent care coverage to employees accepting the buyout offer.
Comments 0 | Recommend 0
December 17, 2008
Best Buy Offers Health Coverage to Employees Who Accept Buyouts
Best Buy Co. is reportedly offering to extend health benefits for one year to
any employee who accepts a company buyout offer that is being made as part of
the consumer electronics retailer’s efforts to trim costs.
The Richfield, Minnesota-based company on Monday, December 15, offered
voluntary buyouts to nearly all of the 4,000 employees at its corporate
headquarters, saying it needs to “reduce significant expense from its corporate
payroll,” according to published reports.
Under the buyout offer, an average salaried employee would receive 7½ months
of pay plus one year of company-sponsored health and life insurance, and
employees whose age and years of service add up to 60 or more would be eligible
to receive one year's salary plus health and life insurance for the duration of
that period, the reports said.
The company did not specify whether it would also provide dependent care
coverage to employees accepting the buyout offer.
Guidelines: Comments that include profanity or personal attacks or other inappropriate comments or material will be removed
from the site. We will take steps to block users who violate any of our posting standards, terms of use or privacy policies
or any other policies governing this site. You are fully responsible for the content you post.
If you enjoy the content on the Workforce Management Web site and want to see more, try 3 issues of our print edition risk-free. If you wish to continue, you will receive one full year for just $79. That's over 59% off the cover price. If you decide Workforce Management is not for you, just write "Cancel" on the invoice, return it and owe nothing. The 3 issues are yours to keep with no further obligation to us. Sign up below.
Offer valid for new Workforce Management Subscribers only.
Canada subscribers - $129. All other Foreign - $199.
= Member Only
