Avista Corp. told about 900 workers Monday that it will offer generous buyouts so that the Spokane-based utility can cut about $14 million or more from next year’s budget. The invitations are going to 919 of the utility’s 1,550 total employees. Not included in the voluntary severance offer are about 600 union workers, said Avista spokesman Dan Kolbet. The unusual cost-cutting measure is driven by spiraling operating costs that include huge increases for medical insurance and pension payments, the company said in a summary sent to many employees. Avista provides power to 600,000 business and residential customers in Washington, Oregon and Idaho. Its 2012 operation and maintenance budget was $256 million; a $14 million cut would be just above 5 percent of the budget/Tom Sowa, SR. More here.

Question: Would you take a buyout from your company if one was offered?