The San Francisco Chronicle and its largest union have reached a tentative agreement on contract concessions that are part of the newspaper's efforts to dramatically cut costs.
The terms reached late Monday with the California Media Workers Guild give the company expanded ability to lay off employees without regard to seniority.
The guild says under the agreement, employees who are laid off or accept buyouts will receive two weeks' pay per year of service totaling a maximum of one year's salary and health benefits for the length of the severance package.
The Hearst Corp., which owns the paper, warned last month that it would be forced to sell or close the Chronicle if it couldn't reduce expenses quickly.
A vote on the tentative agreement could come as early as this week.
