Independent Newspapers has outlined details of a new editorial development plan, which will initially result in 34 redundancies.
The new plan at the Evening Herald, Herald AM, Irish Independent and Sunday Independent, involves changes to page assembly activities such as subbing and page layout.
The changes will include the introduction of a new advanced Editorial IT System and contracting out of selected page assembly services.
In a statement the company said voluntary redundancies are being sought, initially 34 positions.
However, it said, given the generous severance terms on offer a much higher uptake is anticipated, with the final numbers reflecting demand for the package as well as ongoing product requirements.
The terms on offer include a 50% increase on previous terms with ex-gratia payments increasing from four weeks per year of service (available in 2004) to six weeks plus statutory.
The package also provides extended life cover, outplacement assistance and deferred pensions (where applicable).
The scheme will generate packages of between €55,000 and €60,000 for staff with between one and three years service, and the ceiling will be €250,000 for staff with longer service.
Independent shares closed up 2 cent at €3.54 in Dublin this evening.
