Seattle considering voluntary buyouts to avoid layoffs

The city of Seattle is considering voluntary buyouts as a way to avoid layoffs. And while this could cost the city millions of dollars, it could also save the city even more in the next year. Fox 13's Sean Chitnis, live from City Hall this morning, with more on this proposal. John, good morning. Well, if we look back in the last 30 years, we know of two examples where the city has taken this step by offering buyouts as a way to try and deal with budget shortfalls. Now, later this morning, we will see members of the City Council hear more about this at one of their meetings for the Budget Finance Committee. And we will, of course, have public comment as part of that, oftentimes one of the more memorable parts of these meetings. So we will be paying close attention to that in the hours ahead. Now, this offer would be an early retirement incentive for employees to help them choose when they're ready to stop working. At the same time, this would cut the cost to have the same number of employees the city currently has in its workload. Back in 2002, the city gave eight weeks of pay, and in 1996, workers got one week of pay. Some key decisions still need to be made around who could be eligible for this possible offer. Staff also want to determine when and how city employees could join the program to get a buyout. other benefits from the city also need to be sorted out for these employees if they choose this option. Now the cost of offering buyouts would be 6.5 million dollars according to the city budget office with other expenses. City staff are forecasting that expense would not lead to any immediate savings in 2027 but the following year and beyond the city budget office says that they could save around 8 million dollars each year. So this is all part of the analysis going before the city council's budget committee. They will have the rest of this month to really look over this and continue considering this ordinance. And that conversation continues most immediately later this morning at 9 30. We will be monitoring that meeting for you. Live in Seattle, Sean Chitnis, Fox 13 News.