About 130 employees have opted to take early retirement from Hercules Aerospace Bacchus Works as part of a corporatewide program to cut the number of salaried employees.
Out of 360 eligible workers, about 130 elected to add three years of age and employment to their status to receive a special accelerated retirement benefits payment plan or a 51 percent lump sum payment of benefits, vice president and general manager Ruth Novak said.Hercules did not say how the company will deal with the remaining 230 employees. Hercules employs about 4,000 at its West Valley City operations.
The company said the early retirement program is designed to reduce the number of salaried personnel as part of Hercules' plan to restructure and improve productivity.
Among those leaving the firm on early retirement will be longtime public relations managers, Jack F. DeMann and Ted H. Olsen.
DeMann will retire in July as director of public affairs. He joined Hercules in 1961 and worked in public relations at Bacchus Works, Hercules headquarters in Wilmington, Del., and in Washington, D.C. From 1980-1985 he was assistant to the vice president and general manager.
Active in civic affairs, DeMann is a former state Legislator and Murray City Commissioner.
Olsen, manager of media relations for Bacchus Works, has been with Hercules since 1967 and has been responsible for inhouse publications and media relations. Before joining Hercules, Olsen was a reporter and editor at the Deseret News and United Press International.
Olsen said it has not been determined how the Bacchus Works public relations department will be restructured after the retirements go into effect.