Join Early Retirement Today
Thread Tools Search this Thread Display Modes
Old 08-13-2008, 05:52 PM   #21
Moderator Emeritus
Nords's Avatar
Join Date: Dec 2002
Location: Oahu
Posts: 26,636
Originally Posted by CuppaJoe View Post
My question is: can this method ever work for an employee; say, if you get wind that the company may make buyout offers, can you, or have you, started the negotiation process? Of course, in Anne's example of selling your business, that might be a frequent scenario.
IIRC MJ kept his plans to himself and was going to give his employer the absolute minimum required notice. Then they called him in and laid him off with a generous pile of cash...

I applied three separate times for the Navy's early-retirement program in the late 1990s. They had already rounded up the O-4s who had been twice-passed over for promotion and shot them from behind told them that they were now qualified for mandatory early retirement. However about halfway through my processing the submarine leadership realized they'd cut a little deep and locked the barn doors. By the time I retired in 2002 people were volunteering to stay past 20 and getting away with it. In retrospect I'm glad I left on schedule.


The book written on, "The Military Guide to Financial Independence and Retirement", on sale now! For more info see "About Me" in my profile.
I don't spend much time here anymore, so please send me a PM. Thanks.
Nords is offline   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 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 08-13-2008, 06:03 PM   #22
Thinks s/he gets paid by the post
Join Date: Jan 2008
Posts: 2,020
Originally Posted by RunningBum View Post
Cuppa Joe, I had a friend who wanted to leave high tech and concentrate on music, and he asked his manager to put him in for the next buyout. In some cases, every manager may need to submit a name or two, and it seems to me that this is a good way for a manager not to have to lay someone off who wants to stay.
At my last job I was able to get one of my guys a layoff package but, in spite of going to the CIO with my request, I wasn't able to get one for myself. In my case, I basically laid it out to my manager, vp, and the cio, I'm burned out after launching the website, I'm on my way out as soon as I get another vesting tier in my 401k, let me go so you can keep someone that wants to stay.

At my current job it's pretty well known that I'm relocating out of state as soon as I get the retention bonus and I'd love to get laid off, but they keep passing me over. I might change my tactic and just work out some remote work possibilities instead.

Marquette is offline   Reply With Quote
Old 08-13-2008, 08:14 PM   #23
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
harley's Avatar
Join Date: May 2008
Location: Following the nice weather
Posts: 6,928
I'm not sure if this qualifies as a buyout, and it was only 10 months worth of salary. But my division of the MegaTeleCorp was planning some RIFs (Reduction In Force), and since the package also added a year to your age and a year to your years of service, I became eligible for retirement with health benefits and pension. So I volunteered to be RIFed, figuring I could bail 2 years early AND save a job for one of my co-workers who wasn't going to be able to FIRE. Of course they refused

However, at the same time we got a new Director, and in the getting-to-know-you meeting I mentioned that I had volunteered to be RIFed. He told me he was a bottom line guy, and asked me how that would benefit the company. I responded that as of the day of the RIF I was putting in my last day of work, whether they continued to pay me or not. I'm not sure if he thought I was joking or not (I was, but only a little), but a few days later they asked me if I was sure I wanted to do it. I said yes, and the rest is history. Took the lump sum and never looked back. Of course, the guy who's job I saved got nailed 14 months later anyway.
"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
harley is offline   Reply With Quote
Old 08-13-2008, 11:59 PM   #24
Thinks s/he gets paid by the post
Join Date: Nov 2005
Location: North of Montana
Posts: 2,753
Originally Posted by Marquette View Post

At my current job it's pretty well known that I'm relocating out of state as soon as I get the retention bonus and I'd love to get laid off,
Ask yourself why they'd pay you to do something you're going to do anyway?
There are two kinds of people in the world: those who can extrapolate conclusions from insufficient data and ..
kumquat is offline   Reply With Quote
Old 08-14-2008, 07:01 AM   #25
Thinks s/he gets paid by the post
Join Date: Jan 2008
Posts: 2,020
Originally Posted by kumquat View Post
Ask yourself why they'd pay you to do something you're going to do anyway?
If you're a manager and your told you need to lose headcount, why not get rid of the people that you know want to or are planning to go anyway.

Marquette is offline   Reply With Quote

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
What percent buyout offer? hogtied FIRE and Money 10 10-24-2007 12:10 PM
PPT "corporate action" buyout ? JohnEyles FIRE and Money 1 06-12-2007 05:54 AM
Alltel buyout happy2bretired FIRE and Money 3 05-22-2007 03:36 PM
OK ... The REAL Question of Life ... Your Socks Life Craig Other topics 25 01-19-2007 03:24 PM
Tax treatment of stock buyout Gumby FIRE and Money 2 11-26-2006 01:51 PM


All times are GMT -6. The time now is 08:24 PM.
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2018, vBulletin Solutions, Inc.