Does anyone know if this was real? If so, was it oversubscribed?
5 replies (most recent on top)
"I can see where they might not let someone go if they think he/she would retire anyway. That saves severance." I don't think that strategy works. If I tell you I am going to retire next year, even then there is no commitment that I am going to do it. The company cannot force me to retire. I know of several people who planned to retire in January this year. Made it into 2015, come in, get your six weeks vacation for just making it into the new year. Work a few weeks of the new year, put in my retirement paperwork, take it easy getting out of here and working my last days. Oh wait, someone says there are going to be layoffs? Call HR immediately and pull back my retirement paperwork. If there are layoffs, then I can severance pay to leave. Whoopie. And for many, it worked. Sixty weeks pay to leave. What a deal. And for those saying it ain't fair - grow up. Put a lifetime of work into this company. IMHO, you earn the right to be in that situation. Your commitment to the company is paying off.
Who knows if this chance will come again. If the crude price stays down, I could see them readjusting the severance in a downward spiral, maybe selling more assets with the only choice to resign or go to work for company XYZ. If at the 60 week level and eligible for retiree health insurance....it is sure tempting. Of course no sure thing to get it, even if you EOI
I can see where they might not let someone go if they think he/she would retire anyway. That saves severance.
Yeah, it is real. And as said, it is not guaranteed. I signed up. Re: not getting cut, if you are retirement age, you are really in the drivers seat to be able to get severance. I've been told they don't want to lose me. Ok, then don't severe me, and sometime next year I will just retire. Maybe January, maybe May. You will have let a good employee go to keep me, and then I won't be there anyway. And I've heard there will be hiring freezes in place next year, similar to the no-transfer, no-promotion rules in place now. And with as deep as the cuts are going to be, what manager is going to take a chance to keep you against your wishes, and let someone else go who doesn't want to lose their job.
Real. Still have until the 11th to express interest. Impossible to over-subscribe since expressing interest is no guarantee one will get severed. Obviously if you're interested, it makes a selection easier, but if you're someone the company doesn't want to lose, you don't get cut.