Any rumors or info on a possible MVO being offered early in 2021? I know I can’t stop the stupid comments on this site, but if anyone has any valid information regarding this, would be most appreciated.
29 replies (most recent on top)
There should/will 😉 be one !? ... sit tight.
Let the dust settle of all recently taken away. Another incentive to move the more mature out the door. Sad— all the years given to one company— and it comes down to this.. selfish and greed.
The number one worse managed company giving an MVO could happen but unlikely. Maybe a large severance to craft due to extraordinary circumstances is more likely. Deja Vu all over again to quote Yogi Berra.
25+ years here, non bargained, I too am in the difficult position of having to make that decision on whether to retire this year in order to maintain my eligibility for the pre Medicare healthcare subsidy (I have 13 years until 65). It's a tough decision, as others have mentioned. To me a primary consideration is, what are the odds that the company keeps it word to those that choose to retire in order to keep that subsidy? How many years of those 13 remaining are they likely to cover before they pull the rug out on you? I am thinking maybe a couple, best case. Why would you have any confidence that they will honor this, when we're in this position precisely because they are not honoring their word?
The flip side of this is, OK, F them, I am staying, and I will figure the healthcare piece out. I am VERY confident I will not be laid off this year. They won't lay me off in '21 and be on the hook for the subsidy. However, the likelihood of layoff as of Jan '22 rises exponentially.
Re: original topic...MVO? No way they will be doing any this year, IMO. The intent of ending of the subsidy is to drive non bargained attrition without the need for and cost of MVO (which is basically just standard severance). Why would they offer MVO? They won't.
Hello, I accepted the MVO back in 2018 and the offer then was severance pay, 6 months pay max.
Assuming the same was offered, then just plan on putting in another 6 months and you get what the offer would have been, but I would not count on another MVO.
As previously stated they have an incentive already on the table regarding the company subsidized retirement health benefits.
Good luck on your decision.
Agree with @fgg+18JevVV6 , add to that the recent misdirection of an announcement about more vacation time being given to younger employees for a better work balance was actually given at the expense of long term employees losing a week of vacation. T doing all the little things to push people out.
I know that I'm going to take my pension as a lump sum rather than risk losing it over time.
"The only thing I'm missing is the $500 parting meal as my management decided to hold onto that and "celebrate" and a future date."
I used my retirement $500 for a dinner for 4 at a very good steak house. I went $50 over but gladly paid for it.
TO: Post ID: @1idp+18JevVV6
- I don't think the OP was looking for people to brag about how good there deal was.
I think the point was - take what you can get and get out while you can, if you can. I would have liked to work another few years, but I saw the writing on the wall. When I first started working, I was at a company that laid off ~90% of its work force over my first 7 years...while my project grew and I got 10+% raises year after year. I did well so I stayed, but the experience was ugly and towards the end of my career, I did not want to be here to go through that again - especially since now I'm not the "hot shot / lower paid kid" but the older guy with a pension liability that I know the company would like to get rid of. I expect 2021 to be the biggest lump sum pension opportunity we will ever get and when I had an offer to take it, albeit earlier than I would have liked, I jumped.
"@1wpa
Enormous health care cost? that's pretty vague. Just think of health care cost (subsidized or not) as a new car payment."
I don't think many have a car payment of $1500 per month......yeah that's enormous.
I don't think the OP was looking for people to brag about how good there deal was.
I got my MVO in 2020. Management asked for volunteers to be laid off. I volunteered. I was "involuntarily terminated." My "O" was 6 months of severance plus unemployment insurance plus the ability to leave with dignity without having my vacation time and retirement benefits stripped out from under me. I expect I'll collect the full amount of unemployment and then officially be retired, so all-in-all, my "offer" was leave now, get about 3/4 year in pay (severance+unemployment), keep my benefits, leave with dignity. I even got to pick a gift out of a catalog (something else that will probably quietly go away).
The only thing I'm missing is the $500 parting meal as my management decided to hold onto that and "celebrate" and a future date. I doubt I'll be invited to whatever party they throw, but that's OK - I'm celebrating every day now.
Should of took the 50g plus sip while the getting was good. Don’t be bitter the rest of your days at AT&T. Managers won’t get any thing extra if past history is reviewed.
Enormous health care cost? that's pretty vague. Just think of health care cost (subsidized or not) as a new car payment.
The company cannot afford it!! Why would the offer an MVO when they can’t raise the dividend!!!
Unfortunately for many long tenured employees this year will require a difficult decision to stay or go based on the healthcare subsidy. If you find yourself with say 8-10 years from medicare, do you risk being laid off January 2nd of 2022 and forfeit the subsidy or do you stay hoping to get several years more with the company to save for the enormous Healthcare cost though the exchange? Again, difficult decision...but don't think for a minute that by any stretch of the imagination you can survive for 5 or more years given the trajectory of the company...nevertheless, good luck to everyone.
quote;
If your in decent health, I wouldn't worry about the Health care subsidy. Just get a low cost high deductible plan to cover any major unexpected catastrophic healthcare event.
I have the subsidy and have never hit the deductible amount, so basically I'm paying 100% of all my health care cost even though I'm subsidized.
I also don't use the pr-scrip-ion coverage they give me. I use goodrx.com coupons at Costco and it cost less than what my coverage provides. Essentially I tell them not to run it through insurance and present the good rx coupon.
If I were in the OP's predicament, I'd continue to work and continue to accumulate enough in retirement $$ to cover insurance without subsidy. Of course, if I had extreme medical issues/expenses, that may change my thinking.
/quote
Just to clarify my comment and suggestion to the OP (quoted above). I was talking about the pre-medicare subsidy. But, in my opinion it applies to both pre and post Medicare subsidized healthcare.
Just to clarify the subsidies....there was one that paid a retiree/spouse $4200 a year POST Medicare to offset their costs. That was eliminated if you didn’t retire by 12/31/20. This new subsidy take back is a PRE Medicare subsidy, meaning the company will cover about 2/3 of the monthly cost until you’re eligible for Medicare. If you don’t retire by year end 2021 you will pay 100% of the monthly cost until you’re eligible for Medicare. The example given in the email was if you retired 2021, you would pay $531 a month. If you retired after 2022 but cannot immediately go on Medicare you will pay approx$1,601 a month or you can go to the healthcare exchange.
Any plan that involves hiring a financial advisor needs to be modified. Don't spend money on people who never perform better than the broad market (even before they take their cut). Instead just educate yourself on how investments works. Not very difficult.
If your in decent health, I wouldn't worry about the Health care subsidy. Just get a low cost high deductible plan to cover any major unexpected catastrophic healthcare event.
I have the subsidy and have never hit the deductible amount, so basically I'm paying 100% of all my health care cost even though I'm subsidized.
I also don't use the pr-scrip-ion coverage they give me. I use goodrx.com coupons at Costco and it cost less than what my coverage provides. Essentially I tell them not to run it through insurance and present the good rx coupon.
If I were in the OP's predicament, I'd continue to work and continue to accumulate enough in retirement $$ to cover insurance without subsidy. Of course, if I had extreme medical issues/expenses, that may change my thinking.
To poster @fye+18JevVV6, to the contrary I did not fire the first shot. Every time I come to this site and people are looking for legitimate information, someone, without fail makes a stupid comment, i.e. your comment about firing the first shot. But I digress as this site is no longer a legitimate place to obtain information about layoffs. It’s turned into a site littered with hateful, unsubstantiated claims that provide zero information for those who are looking for assistance. I’m not sure, nor am I going to spend an inordinate amount of time trying to understand the hate that drives what people say or do. I’m good, peace and blessings to all who search for it.
" to all the people who don’t have anything kind to say "
You're the one who fired the first shot by immediately presuming, in your question, that comments to your question would be stupid. This, while asking the more ridiculous, unfathomable question possible. Don't try to turn it on everyone here.
OP-I’m in about the same boat as you, I have 12 years before I get Medicare, and have 31 years of service as a L2. This is a very tough decision for those in this group, but I also worry that even if I do leave, they can just take it away later...... ask the retirees that no longer get the supplement to Medicare as of last year.......we’re in a bad spot I fear either way. Good Luck
MVO.....jeez that would be incredible. I doubt it happens but the line to get out would be long indeed.
If you would like to discuss non-layoff related topics, please visit projectunmute.com/at-t-inc
OP here again. Additionally to the individual who indicated that I should “wake the hell up”, I’ve been clear on the direction of this company for quite some time. I’ve taken the time to get all of my ducks in a row. I was hired when a pension was still being offered, so I have my pension, I have my 401k and I have a financial advisor in place to management my lump sum when I take it. I’m about 10 years away from Medicare, so yes I wanted to get closer to that age before I left. Leaving this year allows me to keep my healthcare subsidy, so I’m leaving either way this year. I have given so much to this company and continue to do so despite what they continue to take away. I’m not sitting around collecting a check, I go all out for my job because that’s the work ethic I have. I don’t care if they offer a MVO or surplus me, with all they’ve taken, I want the severance too, as I’ve earned that, because you see, I’ve been here long enough to know that the severance used to be for a longer period of time. So to all the people who don’t have anything kind to say or are so bitter that they want to drag others into their misery, I have a plan. Question is do you.
OP here. I did not call the site stupid, reread my post. I indicated that there was a high likelihood that someone would post a stupid comment, which I was correct, because there are some reckless comments to my post.
Agreed. Q1 is likely to be the only possibility for a layoff. If you look at the before and after employee counts for December, you may see a 1% drop. Using Webphone our VP was around .9%. We can expect 2-3 times that in 2021 or 3-5% of the employee base will leave on their own. However, they will have to wait until the EOY to see that reduction. If the company needs more than 5% then they may do a surplus in Q1, maybe Q2 but I don't see anything happening in Q3 and Q4.
You're calling this site stupid even though almost every single rumor panned out in the past couple months. And yet you're foolishly not seeing the writing on the wall with what they just did regarding health care and pensions to force people to retire. Where the hll have you been the past two months? What possible earthly reason could you have for having even the slightest notion that the company will give you a "carrot" to leave when there are already plenty of sticks? Wake the hll up.
Your MVO was threatening your health care subsidy if you don't retire this year. Consider it 12 months notice instead of 2 weeks.
I doubt there will be any management MVO or non-MVO layoffs in 2021. Stinky will get more employees retiring than he needs just with the pension take aways and other claw backs. Why pay when he can whack people for free?
The wracking will continue for the Craft guys I suspect