Scholastic is in the final days of offering a buyout package to all employees who have been with the publisher for at least 10 years regardless of age. The offer for all but book fair employees expired July 18; due to pre-scheduled meetings, fair staff has until next Thursday to decide on the package.
News of the buyout offer comes after the disclosure by Scholastic last week when it released its fiscal 2011 results that it was “taking steps to reduce costs in non-digital areas across the business,” while expanding its digital operations. It also noted that its forecast for fiscal 2012 excluded severance and other one-time expenses associated with restructuring actions.
A spokesperson had no comment on how many positions Scholastic was hoping to cut with the buyout package.