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 retailerfs 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 greduce significant
expense from its corporate payroll,h 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.
Filed by Joanne Wojcik of Business
Insurance, a sister publication of
Workforce
Management.
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