Dow Jones extends severance program
Dow Jones & Co. extended a severance pay program to more senior executives that would pay them money in the event the company is sold, according to an Associated Press story. The severance pay extension likely includes editors at The Wall Street Journal, Barron’s and Dow Jones Newswires.
The AP story stated, “In a regulatory filing Thursday, the financial news publisher said its board decided Monday to increase the number of senior management employees who are eligible for the severance program by about 135. Dow Jones publishes The Wall Street Journal, Barron’s, Dow Jones Newswires and other publications.
“Dow Jones also said the severance benefits would be enhanced by establishing a minimum severance pay period of 12 weeks. The company also adjusted its bonus program to account for measurement of bonuses should a sale occur this year.
“Dow Jones said the changes are designed to allow current and potential employees to focus on business objectives and help alleviate their concerns about the impact of a sale on their positions or compensation.”
Read more here. News Corp. CEO Rupert Murdoch has bid $5 billion to acquire the company, and other potential bidders have emerged this week.