
                         Roanoke Times
                 Copyright (c) 1995, Landmark Communications, Inc.

DATE: THURSDAY, May 13, 1993                   TAG: 9305130097
SECTION: BUSINESS                    PAGE: B7   EDITION: METRO 
SOURCE: Staff Report
DATELINE:                                 LENGTH: Short

NEWSPAPER OFFERS EARLY RETIREMENT

Times-World Corp., publisher of the Roanoke Times & World-News, said Wednesday it is offering early retirement incentives to 66 of the newspaper's 491 employees.

The one-time, cost-cutting program will be available to full-time employees who are 55 or older and have at least five years of service with the paper.

"This plan meets both our long-range organizational needs and the needs of employees who are nearing retirement," said Walter Rugaber, the company's president and publisher. "We're not responding to any short-term financial need; in fact, our first-quarter operating results were very strong."

Employees who accept the offer will be credited five additional years of age and compensated service in computing their pension benefits. Most people who accept the offers are expected to retire between June 1 and Aug. 1, said Debra Meade, the company's human resources director.

The newspaper does not know how many - if any - of the retirees will be replaced, she said; that decision will depend on how many people accept the offer.

The offer also is being made at two other newspaper companies owned by Norfolk-based Landmark Communications Inc. - The Virginian-Pilot and The Ledger-Star in Norfolk and The News & Record in Greensboro, N.C.

by CNB