ABA Offers Employee Buyouts Ahead of Reorganization
The lawyer organization's move comes amid an $11 million budget reduction for fiscal year 2018 and a $7.7 million operating deficit in 2017.
February 15, 2018 at 01:59 PM
3 minute read
The American Bar Association is offering its first-ever employee buyout in advance of a planned major reorganization this spring.
Employees with at least 20 years of service—and whose age and years of service combined equal at least 75—will receive 15 months of their base pay if they choose to leave, ABA executive director Jack Rives said in an interview Thursday. The buyout comes at a time when the ABA is grappling with revenue declines and a shrinking number of paid members.
Rives declined to say how many of the ABA's 910 employees qualify for the buyout. He said the organization does not have a specific goal for the number of employees who depart through the buyout program, but that those departures will help inform how the ABA restructures in the coming months. Everyone who applies for the buyout will be accepted, he said.
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