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Old 04-29-2012, 03:26 PM   #21
Thinks s/he gets paid by the post
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After 32+years at Mega Corp I was getting ready to enter a 700 day or so glide path. Part of my plan was to jump on any early out after the last sweet deal in '09. However it does not look like that's in the cards. Now we are having people dismissed at age 60-62 for having a bad attitude. Little wonder after the pension was frozen decades ago. We'll see how that works out.

Meanwhile, my job looked very shaky a couple years ago in the depths of the recession. I even had to put my monkey suit and reapply for my job. Went through the drill and now I am busier than ever. However I see the prospects of a golden parachute fading fast. Likewise there are no pay raises on the horizon.

Now I've been asked to travel overseas on top of my already heavy travel schedule. While I am definitely not a slacker I'm grasping to find a way to slow down. My boss joked that it would take them at least 2 years to fire anyone crazy enough to do this job. If this keeps up I am seriously considering becoming a nonperformer and testing the system. However I know this is not in my makeup. Hopefully a severance package will come along and accelerate the situation.

Taking Social Security at 62 and hoping I live long enough to regret the decision.
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Old 04-29-2012, 08:18 PM   #22
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My megacorp had a gigantic and really good package back in 2003. A huge amount of corporate knowledge took the deal and the company has never really recovered, although something that big keeps on rolling no matter what. I, unluckily, was about 2 years short of eligibility, so I had to stay and get out under less ideal circumstances a few years later. But a friend/coworker of mine had left the company in July, and they announced the buy out in Oct. When I was chatting with another coworker in HR I mentioned it, and she told me he could probably get the package if he pushed it. So I told him about it. He eventually got over $50K, although it took quite an effort since 3 consecutive HR people he was working with took the package too and left. I felt pretty good about that one.

"Good judgment comes from experience. Experience comes from bad judgement." - Anonymous (not Will Rogers or Sam Clemens)
DW and I - FIREd at 50 (7/06), living off assets
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Old 04-30-2012, 08:52 AM   #23
Thinks s/he gets paid by the post
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Location: Pasadena CA
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Some of the commercial buyouts amaze me, a friend of mine got 5X salery to leave a company (she was young, not a retirement). I took the Max buyout in the Federal Govt when I left, all of $25K. Max regardless of position. Only worked for me as I was planning to retire anyway.
T.S. Eliot:
Old men ought to be explorers
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Old 04-30-2012, 02:28 PM   #24
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Location: San Diego
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Johnnie36 - what a SWEET deal.

When my megacorp split in half the retiree healthcare went with the other half. I was only a few years away from qualifying for the "rule of 75".
Oh well.

My husband is convinced I will never be laid off - that they'll just keep piling more work on me - and I'll be asked to turn off the lights when the company folds. Trying to find a way to avoid that.

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