HENDERSON, Nev. (AP) - The city of Henderson expects to save $15
million over the next five years through an employee buyout program
that enticed nearly 60 city workers to give up their jobs.
City officials had hoped to see about 15 percent of the 308 employees take the buyout. Instead, more than 18 percent of eligible workers accepted buyouts.
The employees will receive two weeks of severance pay for every
year they worked for the city. The city expects to recover that money in nine months to a year with what it will save in salaries and benefits.
The deadline for eligible public safety employees to take the buyout is March 9.
The state's second largest city is projecting a shortfall of $53 million, most of it a result of tax revenue declines associated with the ongoing recession. The shortfall represent 20 percent of the city's budget.
(Copyright 2009 by The Associated Press. All Rights Reserved.)