Has anyone heard rumors of another buyout in 2018 for 50+? I've heard it from 2 sources but nothing further.
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When you are give a involuntary severance, you are also given a packet showing that all ages were included. You also must sign an agreement that you will not file suit for the separation in order to get your severance pay. They say you can be rehired but don't count on that.
Green Line, Why the 3 year wait? If someone got the original vbo offer and turned it down it is possible that the vbo was a one time offer for them. What prevents them from offering a vbo to those that were not eligible for the first one?
I know of some that didn't take the vbo that have since had their job eliminated.
Perhaps once they have eliminated those that "violated" the reimbursement policy, they will offer a vbo to continue workforce reduction.
I have heard that a future vbo would not be the same. I also had an associate say that they may offer a vbo next year.
They can’t offer VBO for three years now as they told people last time it happened that this is a once in a lifetime deal. They need the clock to expire before doing it again.
Too much fast in the company, let go of 25% of the staff and the productivity will go up.
I am 52 and was given severance. They moved my job to NM and hired a Veritude employee to do the job. I was there 13 years.
Good Lord, I wish more VPs and SVPs would quit or get furloughed. There are so many of them. They fall over each other like you wouldn't believe whenever something happens and a decision must be made. Oh, woe is me, I might have to make my mind up about something and the big boss might think I can't make up my mind about something. They are useless herds and can't think for themselves.
It wouldn't be hard to prove age discrimination. The law allows for "disparate impact" to be considerable evidence when it comes to discrimination.
When do long-standing employees start getting written up or start getting bad performance reviews?
When layoffs occur, what age groups get hit the hardest?
What is the average age of the firm before and after a layoff?
When the company speaks of "attracting talent," do they refer to particular age groups? For example, "How do we attract millennials to work here?"
Older workers are a protected group. Ask yourself, would they treat black or hispanic workers like that? Believe me, they take great pains to make sure that layoffs, promotions, etc., don't have a "disparate impact" on black workers.
March is here. Any update?
VBO's? Why when after 12 and a half years employment in the year you are turning 50 they can just come up with some random reason to fire you
ALERT! Wait until the Law Suits start to come in to play from DTCC employees, back office operations employees and shareholders regarding physical certificates being contaminated from Super Storm Sandy. The certificates are disgusting and were not replaced. I know of employees managing certificates getting sick as a result of these stock certificates. They smell like urine from being underwater from the Hudson River during Sandy. Not Healthy at all and needs to be investigated ASAP.
Trust me. No more VBOs.
They'll be laying off far more than 50+ year olds, believe me.
To avoid age discrimination lawsuits?
Unlikely. Why offer another VBO when they can just layoff?
Internal rumors about new Vbo, 50/10, do persist. Heard them again yesterday.
How will a cut at the VP and SVP level cause other folks to give notice? That makes no sense. Most people could give a crap about the VP or SVP they work for. New boss same as the old boss, the old saying goes.
No. They can offer a voluntary buy out to anyone regardless of age. Age doesn't matter.
There will be no more VBOs.
I heard 55 is the lowest, something about a IRS or labor law. I think that was a one time thing. I hear stronger rumors that the severance program will be changed. I have to imagine they can not keep this pace up with paying 15-25 year employees as that has to start to add up significantly. They are generous with there program of cutting ties.
Wishful thinking. Let me guess... you're between 50-54 years old?
Many more cuts to be made in the coming months, some will be targeted at VP, SVP level which will cause other folks to give notice - not sure they will need the more expensive VBOs.