Georgia-Pacific In Muskogee Begins Offering Buyout Packages
Monday, July 10th 2006, 6:16 am
By: News On 6
MUSKOGEE, Okla. (AP) -- One of Muskogee's largest employers has started offering its employees buyout packages in what a company spokesman says is an effort to improve its returns.
Georgia-Pacific, a maker of building materials, tissue products, paper and gypsum wallboard, said in February that it employed 1,350 people in Muskogee at a facility with a payroll of $70-million.
The company is owned by Koch Industries of Wichita, Kansas.
Georgia-Pacific announced last month its intentions to offer the buyout packages in Muskogee. Georgia-Pacific spokesman Gill Luton said the company is taking similar steps across the nation.
The buyout package would pay employees a lump sum equal to $10,000 and offer two weeks of severance pay for each year of continuous employment.
The offer is good until August 11th.
Luton says there is no set amount of employees or payroll to be cut in Muskogee.