Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
Old 01-14-2015, 12:01 PM   #61
Thinks s/he gets paid by the post
 
Join Date: Dec 2014
Location: Florence, AL/Helen, GA
Posts: 2,092
After working 36 years at a company with acceptable job performance, a large company wouldn't want the negative visibility that a lawsuit would cause. They'll usually offer you a really decent retirement package and send you to the house.

My company overreacted in 2008, and essentially terminated every employee 55 years old and older. It was nothing personal, but they didn't handle the terminations with class. They did offer insurance to age 65, a pay supplement until age 62, a year's severance pay and 5 weeks vacation.

36 years is long enough, actually too long, for any self respecting person to work for a single company. The employee and the employer simply get tired of their "marriage." Ask for a package and go enjoy your life.
__________________

__________________
Bamaman is online now   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 01-14-2015, 03:58 PM   #62
Thinks s/he gets paid by the post
Lakewood90712's Avatar
 
Join Date: Jul 2005
Posts: 1,316
Quote:
Originally Posted by Bamaman View Post
After working 36 years at a company with acceptable job performance, a large company wouldn't want the negative visibility that a lawsuit would cause. They'll usually offer you a really decent retirement package and send you to the house.

My company overreacted in 2008, and essentially terminated every employee 55 years old and older. It was nothing personal, but they didn't handle the terminations with class. They did offer insurance to age 65, a pay supplement until age 62, a year's severance pay and 5 weeks vacation.

36 years is long enough, actually too long, for any self respecting person to work for a single company. The employee and the employer simply get tired of their "marriage." Ask for a package and go enjoy your life.
I would strongly disagree with the last paragraph. Although personally in hindsight, I should have changed jobs more often mid career (19 years at mega-corp and 13 years at mega-city)to prevent stagnation, as I never aspired to promote at either place,but that's just me.

Some folks are truly the core of some businesses, are as dedicated as if they owned the place , and enjoy staying at the same employer.
__________________

__________________
“The finance industry is 5% rational people and 95% shamans and faith healers.” - Charlie Munger
Lakewood90712 is offline   Reply With Quote
Old 01-14-2015, 05:37 PM   #63
Thinks s/he gets paid by the post
Spanky's Avatar
 
Join Date: Dec 2004
Location: Minneapolis
Posts: 4,046
Quote:
36 years is long enough, actually too long, for any self respecting person to work for a single company.
The longer one stays, the better pension (if applicable) will be.
__________________
May we live in peace and harmony and be free from all human sufferings.
Spanky is offline   Reply With Quote
Old 01-14-2015, 05:44 PM   #64
Thinks s/he gets paid by the post
 
Join Date: Dec 2014
Location: Florence, AL/Helen, GA
Posts: 2,092
I can tell you that our company didn't care about having ultra experienced employees. They simply preferred to have younger workers making less money.

And in these changing times, my company is now trying to run a $15 billion company with outsourcing of some job functions and much fewer employees. And I'm not talking about 10% less employees. I'm talking 70% fewer people.

The timing was great for me. I'm young enough to chase my dreams and financially stable enough to support my hobbies--RV's, boats and travel.
__________________
Bamaman is online now   Reply With Quote
Old 01-14-2015, 07:33 PM   #65
Thinks s/he gets paid by the post
growing_older's Avatar
 
Join Date: Jun 2007
Posts: 2,608
Quote:
Thankfully, I soon rotated out of there and I learned never to trust HR, even after I was promoted into management.
I have had some good experiences with HR and with management, but I have also had some terrible experiences with untrustworthy HR in cahoots with management, even when I was part of management. There is no getting around that HR is NOT for the purposes of assisting the employees, it is for the purpose of assisting the company with employees.

I still get LinkedIn invitations from the worst of the worst HR directors who regularly betrayed confidences and was involved in covering up several age discrimination actions I know of. I can only assume that this is seen as so much a part of the HR job that she is oblivious to the fact that people affected would harbor ill will.
__________________
growing_older is online now   Reply With Quote
Old 01-14-2015, 09:23 PM   #66
Thinks s/he gets paid by the post
Spanky's Avatar
 
Join Date: Dec 2004
Location: Minneapolis
Posts: 4,046
Quote:
Originally Posted by growing_older View Post
I still get LinkedIn invitations from the worst of the worst HR directors who regularly betrayed confidences and was involved in covering up several age discrimination actions I know of.
Is it safe to assume that you did not accept their invitations?
__________________
May we live in peace and harmony and be free from all human sufferings.
Spanky is offline   Reply With Quote
Old 01-14-2015, 10:19 PM   #67
Thinks s/he gets paid by the post
 
Join Date: Dec 2014
Location: Florence, AL/Helen, GA
Posts: 2,092
My degree is in Labor Legislation. Had I known how disliked and untrustworthy H.R. reps. were, I might have found a different field of study.

I found you never tell them the truth. You tell'em what they want to hear. And they're not to be trusted as far as you can throw'em.

One of their job tasks is to minimize employee litigation against the company. My boss used to give decent performance reviews to females and minorities--even if they were sub-par. When 3 ladies were passed over in promotions, he was formally threatened by lawsuits. The company paid the three ladies over $250K each for hold harmless agreements. These things happen in the real world.
__________________
Bamaman is online now   Reply With Quote
Old 02-07-2015, 01:51 AM   #68
Thinks s/he gets paid by the post
 
Join Date: May 2008
Posts: 2,259
Does HR usually offer severance when they present you with a RIP?
__________________
tmm99 is offline   Reply With Quote
Old 02-07-2015, 08:41 AM   #69
Thinks s/he gets paid by the post
Spanky's Avatar
 
Join Date: Dec 2004
Location: Minneapolis
Posts: 4,046
Quote:
Originally Posted by tmm99 View Post
Does HR usually offer severance when they present you with a RIP?
Severance is normally offered for RIF or layoff but not termination due to poor performance or misconduct.
__________________

__________________
May we live in peace and harmony and be free from all human sufferings.
Spanky is offline   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
A little help with parental situation please nnkrealtor FIRE and Money 22 06-03-2014 11:46 AM
Mortgage Refi situation, seeking opinions Mulligan FIRE and Money 10 09-20-2012 10:14 PM
How to cope with bad work situation? brewer12345 Young Dreamers 324 03-24-2010 11:26 AM
Unsure of self with guest situation - help please Amethyst Other topics 23 04-26-2009 11:06 AM
S.O.S - Terrible work situation - Advice pls. Tracker FIRE and Money 43 05-06-2008 01:26 AM

 

 
All times are GMT -6. The time now is 11:09 AM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.