Retired Today - Escorted out with package!

[jim584672]

If there are any wavers as a part of your settlement you should meet with an attorney conversant with employment law before signing. In the State of Oregon the offer must include a paragraph to that effect and good employers provide $ for just that purpose. While it may seem like a generous offer it prevents any subsequent claim that the agreement was signed under duress and thus is invalid.

I am not sure what you mean by wavers? Could you give an example?

 

[Brat]

Example: Your severance is predicated on waiving your right to sue them for age discrimination.

 

[jim584672]

I just want to get it done while they are willing to do this, so I am not going to rock the boat. The agreement is basically I won't sue, use confidential information, disparage them.

 

[Chuckanut]

Severance pay? What the heck is severance pay

Congratulations. I hope your retired years are happy, long and prosperous.

 

[GravitySucks]

Congrats! Sounds like a mighty good package.
So did you hum "Pomp and Circumstance" or "Fanfare for the Common Man" while being marched out?

Sent from my Nexus 7 using Early Retirement Forum mobile app

 

[Huston55]

Congrats Jim!

Welcome to the Class of 2014. Here's our class theme song (as selected by me ). It seems to fit your circumstances.

Enjoy the next phase of your life.

 

[BigNick]

When asked what your biggest weakness is. Tell them that you are always totally honest. When they tell you that honestly isn't a weakness. Tell them that you don't care what they think.

Since I first heard that gag, I have actively considered applying for jobs, just so I can deploy that line.

 

[Corporateburnout]

Congratulations, sounds like a good deal. I regard to being walked out, that was SOP at Megacorp, I retired on good terms, HR walked me to the door. I couldn't get in to use a bathroom if I needed to.

Worst was one poor gal during the first RIF. She didn't know, taken to an unsecue area, left her coat, keys, purse, wallet and cell at her desk. Wasn't allowed to retrieve them, HR wouldn't tell anybody. She was pushed out the door middle of winter. Finally she found someone walking in to give a friend the message, please bring me my stuff outside. I think some policies changed after the fact.

Sent from my SAMSUNG-SGH-I337 using Early Retirement Forum mobile app

I've seen layoffs where people would arrange to come back after hours to clean out their desks but never heard of people not allowed to take their coats, keys, purses etc.... That's a cruel company.

 

[Walt34]

The only problem with receiving unemployment is that you are legally obligated to be actively searching for a job.

In WV they made it pretty easy. You only had to search for one job per week and keep some documentation of your search. So I could go into the local gas station and ask if they needed any computer forensic examiners or security specialists which of course they didn't. Ask the employee's name, write it down, and you're done.

Or I'd go to a web site and search for a specific job, get no hits, and print out the page.

Once, to my horror, I got a hit on a job that I actually qualified for so I had to go somewhere else and search.

No one ever asked to see the documentation.

 

[rodi]

As for the escort out... My old roommate worked at the same employer. When she was RIF'd they escorted her to her cube to pack her things... security guard watching her every move. She made him follow her to the ladies room (and stand outside). He offered to carry her box of stuff... she said "fine - but I'm going to say goodbye to people first". He tried to dissuade her - but she just marched out of her cube to another department where she informed her friend there - and made the rounds to all of her friends. Poor security guard slinking along behind her. She was one of those people who could give you the look that said "are you really going to challenge me on this?".

The same corp went through many many many more RIFs. Only in 2011 did they stop escorting out. It was a kindler, gentler place. Snort. They even started giving 3-4 day notice, so you could pack up or try to find a position in a different group. But in the mid-2000's you knew it was RIF day because there were different security guards - and some had guns. AFAIK - there was never any incident to warrant guns.

 

[Janet H]

But in the mid-2000's you knew it was RIF day because there were different security guards - and some had guns.

Some days I'm glad to be a musician - paltry wages and all....

 

[Lakewood90712]

Back in my 'Mega-Corp" days 1980's- 1990's , saw hundreds of folks rif'd.

The salary employees were always done on a Friday, at start of work , no escort unless there was 'hostilities" , you got your final check , in exchange for ID Badge, various severance, as much as one week pay for each year of service, + 6 mo medical insur.

The Hourly employees were informed 2 weeks in advance, and had to at least appear to work ( be present ) , no severance, 6 mo. free medical insur. DOD contractor, most everyone had sec. clearances, including Hourly. Sabotage was almost unheard of.

Hourly very often returned ( recall rights). Salary rarely ever returned, usually got pickup up by a competitor ( at higher pay too), if any good , or never worked in the business again, if a dud.

 

[Texas Proud]

First accept congratulations for getting what sounds like a pretty good deal, even if the timing and methods used by your company are not so good. The shock of the sudden timing, not with any expectation by yourself, is going to take a little while to let you settle. The good thing is you actually wanted this, and now the only shock is to make the adjustment on unexpected schedule.







My suggestion is when they ask you if you have income say "no". Severance is intended to bridge the gap, not replace income. While your state laws may have specifics you should check into, a detail may be whether the severance is paid out over time or lump sum. If lump sum, there is no more income and you are certainly unemployed by any definition. If it is paid out over time, I still would argue it is to supplement the unemployment, since unemployment is not equal toy our previous pay level. Not having an employer and not receiving a paycheck is unemployed.

I will jump in here... for my state the important point is were you actually working or available to work.... IOW, since the OP was escorted out he is not considered available to work, so severance is not 'income' for unemployment.... when I was let go, the boss said 'you can go, but if we need you we will call you'... which means severance IS income and I was not able to get unemployment.... and I discussed this with my state case worker.... told her that he said this to everybody but never called anybody... she said I could challenge it, but it would delay a decision...

 

[Texas Proud]

In WV they made it pretty easy. You only had to search for one job per week and keep some documentation of your search. So I could go into the local gas station and ask if they needed any computer forensic examiners or security specialists which of course they didn't. Ask the employee's name, write it down, and you're done.

Or I'd go to a web site and search for a specific job, get no hits, and print out the page.

Once, to my horror, I got a hit on a job that I actually qualified for so I had to go somewhere else and search.

No one ever asked to see the documentation.

It makes a difference in where you work and I guess what level position... I had to have three 'contacts'... which means if I called a head hunter that was a contact...

 

[Palmtree]

It may have been sudden. It may have felt rude but remember this...you hit the jackpot! Many people would love to have gotten the offer they gave you. Welcome to life 2.0. I bet it will be great!

 

[tryan]

geez, a YEAR's salary ... Congrats! For that, they can hand cuff me all the way to the door ...lol.

Mine was 12 weeks pay after 20 years .... not so good. Unemployment bennies were 30 weeks at $640/wk (max'ed out the state limit). Cobra was on me.

 

[Chuckanut]

Upper level managers had a limited access parking lot.
Notification came early, when the card scanner didn't lift the gate. An hour to box office belongings, and a uniformed escort to the elevator and out the door.
For many 30+ years... over in one hour.

Referring back to the thread about the work ethics of Millennials all I can say is that these young folks have learned the lesson well.

 

[Chuckanut]

It may have been sudden. It may have felt rude but remember this...you hit the jackpot! Many people would love to have gotten the offer they gave you. Welcome to life 2.0. I bet it will be great!

+1 This kind of job loss is truly a first world problem.

You can now start life on the other side of the cubicle.

 

[Lakewood90712]

At least you did not have to use the method of severance negotiation in the movie American Beauty

 

[jim584672]

Just an update, the severance agreement was returned today signed by an officer of the company.

Now just waiting on the payment.

 

[travelover]

Just an update, the severance agreement was returned today signed by an officer of the company.

Now just waiting on the payment.

Congratulations.

 

[Lakewood90712]

 

[Buckeye]

Just an update, the severance agreement was returned today signed by an officer of the company.

Now just waiting on the payment.

Have you filed for UI yet?

 

[jim584672]

Payment rec'd.

 

[Looking4Ward]

Drinks on Jim!! LOL!