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Achiever51 · 10-24-2007, 09:42 AM

As the others have pointed out, there's really no "one-size-fits-all" in these situations.

At my former MegaCorp, each RIF (reduction in force) situation had its own set of provisions. Once, a good friend of mine -- then in her late 30s -- accepted an offer of 1 yr. salary, full medical coverage for 2 years and a pension buyout of $75,000. With that, she severed any future benefits (including pension) from MegaCorp. (She later admitted she made a BIG mistake taking this offer as it delayed her future retirement date by years!)

Most recently, former co-workers of mine were offered 1 month salary for each year of seniority (maximum payout = to 30 months salary), plus 1 year medical and either a buyout of future pension coverage to sever any future benefits from MegaCorp, or, if within a few years of retirement eligibility, a bridge to retirement.

Depending on the number of employees your company wishes to remove, there is probably a base formula they will offer, which may be "sweetened" a bit depending on the age of the employee and/or his/her perceived importance to the organization.

Good luck!

10-24-2007, 09:42 AM	#8
Achiever51 Full time employment: Posting here. Join Date: Feb 2007 Location: Southeastern Michigan Posts: 892	As the others have pointed out, there's really no "one-size-fits-all" in these situations. At my former MegaCorp, each RIF (reduction in force) situation had its own set of provisions. Once, a good friend of mine -- then in her late 30s -- accepted an offer of 1 yr. salary, full medical coverage for 2 years and a pension buyout of $75,000. With that, she severed any future benefits (including pension) from MegaCorp. (She later admitted she made a BIG mistake taking this offer as it delayed her future retirement date by years!) Most recently, former co-workers of mine were offered 1 month salary for each year of seniority (maximum payout = to 30 months salary), plus 1 year medical and either a buyout of future pension coverage to sever any future benefits from MegaCorp, or, if within a few years of retirement eligibility, a bridge to retirement. Depending on the number of employees your company wishes to remove, there is probably a base formula they will offer, which may be "sweetened" a bit depending on the age of the employee and/or his/her perceived importance to the organization. Good luck! __________________ The best things in life....are not things.