Thread regarding IBM layoffs

IBM T2R

Would someone please explain the T2R concept to me. I am not with IBM but would like to learn about the practical outcomes of the concept (my company will have something similar to T2R)

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T23 stands for "Transition to Retirement", I am not 100% sure how we do this, but it's my understanding you need to be over 55 or something like that, and they will let you go work 24 hours / week. Also, they will cover some benefits up to certain thresholds. Most people like it, in short you change status to non-exempt, you will not work overtime, etc.

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