Not fire, but will lay you off in a heartbeat. Doesn't matter how well you do your job. All of a sudden you find out you are out of a job. It does seem like they bring in younger people and then the older people are at risk. It is a really good company to work for unless you count onbeing at the company for a very long time. If you are counting on sticking around, I wish you luck. As soon as they realize they have over Hired (read: mismanaged hiring), they will heartlessly remove staff without a second thought. The good news is the lay off packages are decent and should allow you adequate time to find another position at a better company.
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No White Buffalo, the buyouts are not voluntary, they are forced. When you reject the package and then your manager calls and strongly suggests you take the package, that is not voluntary. #agediscrimination
The buyout is being presented as voluntary, but there is pressure from management to take the package. Ominous reduction in force "threats" too. Take the package or risk being layed off in the fall.
Although the layoff is voluntary, there are divisions that are consolidating and have admitted that there will be layoffs. Some don't want to leave but with looming layoffs they feel like they have to take the buyout as they will be getting a very good severance package and an extension for staying on the company insurance plan. For some it isn't worth the gamble to stay when it is possible their job will be eliminated anyway.
The buyouts are voluntary. It is not a layoff. Employees don't have to take it and can continue working.