Leave if you're that unhappy. I don't get some of you. Nobody is forcing you to be here. Just walk away. Do yourself a favor - and the rest of us as well.
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OP - You need a reality check. The job market is not that great and according to a survey of Ford employees let go last year about 50% of those looking have found jobs. Approximately 10% said they have retired and about 40% were still looking for work.
The up-to 5.5% company match for those hired after 2003, fully invested in a stock fund in SSIP, probably comes close to equivalent of a lump sum pension after 20-30 yrs.
Advantage is that it’s portable also, leave company and it’s yours.
You can backtest this using a website called portfolioanalyzer.com
You all are useless. Just leave the company or WFH.
@djf+1oMmRcA Chill dude. You do realize that some of the old timers have been stuck at GSR 8 for 20 years getting 2-3 % raises. A number of long term GSR 8 are in the 1st quartile in pay, which means roughly half of the GSR 6 make more money than they do. Often times new hires have much higher salaries than GSR with 30 years in.
Yeah some of the old timers haven’t done squat in the last decade, but there are some who continue to work hard their whole career, paying it safe and deferring compensation (waiting on pension) only to get clipped just before they hit their pension milestones.
Given your much higher salary and the SSIP you should be saving 20% of your salary for retirement and have zero issues having a comfortable retirement.
@wxt+1oMmRcA1
Must be nice to be promised a pension. Some of us "sn-t nosed punks" actually bust our a**es off for this company. Not sure who you've had the displeasure of working with. No matter how hard I work though, I'll never be able to get as good of a retirement as you. Remember that.
Loss aversion is something most people struggle with. People tend to act more irrationally to avoid losses than they do to pursue gains.
My LL6 had invested all of his 401k in F stock in the 90s and refused to deinvest because he would lose money. He never did sell the F stock and in fact continued 100% invested in F stock. He retired with a 401k balance a fraction the size of his coworkers who had sold the F stock and invested in Vanguard index funds.
Similarly people hang on at Ford to avoid losing something they feel they are owed.
It's just a life.
Die if you're not happy. Nobody is forcing you to live. Just pass away. Do yourself a favor - and the rest of us as well.
Terrible advice!!!!
@sxp, if you’re really seeking a severance, it means your severance is significant (9 months) and you likely have 20 years of service. Not sure if you’re 55 or.
not, but raise your hand to your management and offer to be cut in the next wave. It worked for some in August 2022.
They might say “no you’re extremely valuable, we need you badly”. That will give you some validation.
They might say “hey you’re extremely valuable, we need to backfill you and to post your job, will you write up your job description so we can post it now?”
They might offer a position elsewhere in the company more to your liking.
Their reaction is important, you never know.
No one owes you anything. You are responsible for your career development and happiness.
@sxp+1oMmRcA1. You don't want to walk away with nothing? Yeah, good plan. People dissatisfied with their jobs look for better jobs. If they find something they walk away with a better job. Unless you are on the cusp of retirement, why would you spend months/years in a job you don't like looking for a severance? Maybe you luck out and get a severance right after you get an offer, but it is best to focus on finding the right position.
@sxp, if you really are in pension plan, you have at least 20 years built up and a decent lump sum. Stop complaining and move on, take your esteemed skill set to another company or industry.
Since Ford stopped defined benefit plan for those hired after 2004, those having pensions have at least 20 years. Take the lump sum and run. If you’re not yet 55, it’s best to wake up and get to a better working environment and better company or industry for your own mental health. Get to a place where you’re positively contributing and feeling good about it. I’m thinking supply base.
If Ford is truly in as bad shape as it looks, bankruptcy is on the horizon, and then once that happens, you’ll likely get nothing in terms of pension or a huge haircut like steelworkers did here in SE Mich in the 80s.
@wxt, you sound older, maybe you’re 55+, think about moving on yourself, you likely have 6x to 7x salary built up in lump sum. Even more of a reason to get your skills more positively utilized for a better company.
You complainers sound like the union dead-Enders who say “they’l never take me out of this plant, they will have to use a stretcher”… if you’re truly intent on working to your death, it can’t be that tough of a job.
Nov ‘22 retiree here, 23 years, had some lump sum built up and decided to leave instead of stay and remain bitter and complaining all day about it. Had planned to work 3 more years but not under the conditions that had developed, seeing engineering work go to Brazil, Mexico and India.
Other things in life are more important like health and family.
Last note, the Ford family owns the stock, and also the Detroit Lions. Do you expect any better stewardship of the auto company after knowing how the football team is managed.
Yeah, I miss Alan Mullally , but he was lightning in a bottle. A one-off.
I wish you all peace and resiliency.
Any new graduate or individual starting their career is predominantly focused on just putting their best foot forward while trying to not sc--w up.
I wholeheartedly understand how someone who was dedicated and loyal would want the pension / retirement they built. But the people you're angry with aren't the ones booting out old timers.
Let me help explain why we don't leave. Many of us have put 20, 25+ years in this company and have a pension that is promised to us. We worked passionately to create the company that you sn-t nosed punks want to work at. Now you want to change it by pushing the veterans with all the experience out. We will gladly go once we lock in our pension and hand it over to you. I guarantee Ford is doomed in 5 to 10 years with you punks running it. It is already in a nose dive.
The funny part is a lot of posters here quit, were laid off, or were fired months or even YEARS ago and yet they routinely come here espousing their dislike for the company.
They live sad lives. I've met a few people like this in person at the company, just all around miserable people. I hope they get cut.
Give me a severance and I will gladly walk away. But I don’t want to quit and walk away with nothing.