Manager level buyouts have possibly started already. Anybody confirm this?
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No doubt Corp Execs look at reducing or ending pension obligations all the time. As do most companies. The days of rapid earnings growth are long gone when pensions were promised. Most new companies dont do pensions now. The only way to stop paying would be to declare bancruptcy first. They can make offers to a different pay out plan that employees would have to agree to. We will see how it unfolds someday. Right now just speculation.
Buyouts do not always mean an employee leaves the company. Many corporations have bought out pensions of employees that continue to work. Boeing for example has done this practice in the past.
Key word is "buyouts" and what it might mean. If it means a specific offer to a specific individual to leave the company, then it can be structured in many ways including, legally, some sort of sweetened pension payout beyond the current legal obligations. Otherwise, all they can do is change things again going forward but can't take away what has been earned and can't force lump sum payout only.
I know people in PMT HBT SPS and CORP and nobody has received anything. Maybe Aero only or just speculation. Or they are waiting until after Darius explains what he is dumping. Anyone in Aero hearing something??
Most likely they will just freeze they whole pension benefit. They don't want any employees over 45. And the strategy is going to be 80% software developers. If you don't do that, time to prepare your resume. Darius revels the strategy end of September per what he said on quarterly investors call
When HONEYWELL froze the salary portion of the pension calc were were told about November 5
They have to give at least 60 days notice. I doubt they would be kind enough to tell us early
While it would be nice to get 90 or 120 days or even years of warning that does not serve Honeywell
They want you working hard for that benefit so better for them to surprise you they are ending it
a. You are a douche
b. Refer to a.
a. Because there must be communication to everyone of a change in the plan since that is required by law, and b. Because no one has received anything. Fake news.
Can you prove it is fake news there, Mr. Fake news monitor?
Fake and stupid
Fake news.