Life after the buyout

[Nords]

Quote:

Originally Posted by CuppaJoe 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.

[Marquette]

Quote:

Originally Posted by RunningBum 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.

[harley]

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.

[kumquat]

Quote:

Originally Posted by Marquette 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?

[Marquette]

Quote:

Originally Posted by kumquat 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.