Being honest to my boss as I walk out the door. Financial ramifications?

[nash031]

TL-DR:
-I want to be brutally honest with my terrible, shameless boss as I walk out the door, for my own self respect.
-I have the funds and I am fully prepared to leave this entire industry.
-What could be the consequences other than burning bridges?

Take the high road. You'll feel better about yourself in the long run.

 

[gayl]

I could've written the OP.

Looking for advice: I'm trying to schedule a meeting with my boss so that I can let her know that I'm leaving after October 17th. I had fully planned on telling her that tomorrow. But I just got a late call off and I'm not going in tomorrow. Cancelled work days have become more and more common. Looking at workflow , the office should be done by October 15th and October 17th would just be any catch up. The office is traditionally laid off for November and December with a call back in January. So now I'm thinking to just let her lay me off and not say anything. Am I obligated to let her know that this is it for me? What would you do?

Just in case it makes any difference, I will be retiring with a government pension and only a year to go to Social Security. I'm flush enough in my investments that recently I'm making as much in dividends as I am in salary. So whether I work again or not doesn't really financially have an impact on my day-to-day life

 

[Lakewood90712]

I could've written the OP.

Looking for advice: I'm trying to schedule a meeting with my boss so that I can let her know that I'm leaving after October 17th. I had fully planned on telling her that tomorrow. But I just got a late call off and I'm not going in tomorrow. Cancelled work days have become more and more common. Looking at workflow , the office should be done by October 15th and October 17th would just be any catch up. The office is traditionally laid off for November and December with a call back in January. So now I'm thinking to just let her lay me off and not say anything. Am I obligated to let her know that this is it for me? What would you do?

Take the lay-off. Decide over Nov. and Dec. If you are sure you are done for good, let them know shortly before the new year. You get the best of both this way.

 

[rayvt]

Take the layoff. Nothing like retiring with a pension AND getting a severance package AND getting unemployment compensation.

And ... your whole outlook changes when you've decided to leave. All of a sudden issues that used to eat at you become nothingburgers. It all rolls off your back, because now you are (mentally) on the outside looking in. All that stuff is happening to other people, not you.

 

[38Chevy454]

Take the layoff. Nothing like retiring with a pension AND getting a severance package AND getting unemployment compensation.

And ... your whole outlook changes when you've decided to leave. All of a sudden issues that used to eat at you become nothingburgers. It all rolls off your back, because now you are (mentally) on the outside looking in. All that stuff is happening to other people, not you.

X2, fully agree with this plan. It provides you Gayl with the flexibility if you decide to change your mind, but also gives you maximum potential benefit.

 

[RunningBum]

I could've written the OP.

Looking for advice: I'm trying to schedule a meeting with my boss so that I can let her know that I'm leaving after October 17th. I had fully planned on telling her that tomorrow. But I just got a late call off and I'm not going in tomorrow. Cancelled work days have become more and more common. Looking at workflow , the office should be done by October 15th and October 17th would just be any catch up. The office is traditionally laid off for November and December with a call back in January. So now I'm thinking to just let her lay me off and not say anything. Am I obligated to let her know that this is it for me? What would you do?

Just in case it makes any difference, I will be retiring with a government pension and only a year to go to Social Security. I'm flush enough in my investments that recently I'm making as much in dividends as I am in salary. So whether I work again or not doesn't really financially have an impact on my day-to-day life

I agree with Lakewood. What if your situation changes or you change your mind for some reason and want to come back? This seems like an ideal time to have a couple months off to make sure. You can't be the first person who doesn't return after 2 months off.

 

[pb4uski]

Take the layoff. Nothing like retiring with a pension AND getting a severance package AND getting unemployment compensation.

And ... your whole outlook changes when you've decided to leave. All of a sudden issues that used to eat at you become nothingburgers. It all rolls off your back, because now you are (mentally) on the outside looking in. All that stuff is happening to other people, not you.

+5 when they call you back you can always say that you have decided to not to return to work... in the meantime you'll have flexibility and unemployment compensation.

 

[gayl]

Oh I'm taking the layoff! I just didn't know when to tell her bye-bye! Turns out that's what my predecessor did only he jumped to another firm. Took the layoff time to find another firm. She was pissed. At any rate ..... work is beginning to interfere with my life

 

[Huston55]

Oh I'm taking the layoff! I just didn't know when to tell her bye-bye! Turns out that's what my predecessor did only he jumped to another firm. Took the layoff time to find another firm. She was pissed. At any rate ..... work is beginning to interfere with my life

Do you mind sharing what kind of govt work lays off everyone for two months each year; and you still get a pension?

 

[Brat]

After I retired from a Fed agency I wrote a letter to my Senator sharing a situation which I asked be investigated. It turned out that the Senator was having dinner with the Secretary of that Department the evening he read the letter so he brought it along. A few weeks later I learned that the manager who was the source of the problem was given the choice between discharge or retirement at a meeting at the end of the day. He had been expecting a superior performance reward when the national office representative arrived in his office.

I gained nothing but satisfaction for my efforts. Bless that Secretary!

 

[Just_Steve]

Do you mind sharing what kind of govt work lays off everyone for two months each year; and you still get a pension?

My wife works for our local school district 10 month employee and only part time and will be getting a pension.

 

[gayl]

Do you mind sharing what kind of govt work lays off everyone for two months each year; and you still get a pension?

don't I wish!

I retired from the gov't 2/19/2004 and went to self employment. I had a semi-profitable tax business (only netted 20K+ a year, sort of hobby job) for several years until I landed a sweet job Feb 2014 while they negotiate a sale (9 months, severance). Then I went to current job. Been here almost 2 yrs (2 yrs in November)

So the breakdown is:

• gov't pension effective 4/1/2004
• converted 457 to IRA
• annual deposits from my company
• Roth from 2014-now
• UI eligible as it isn't on same source as pension

 

[convergent]

Here is how I approached a similar situation in the past.

1. I continued to do my job as best as I could.
2. I aggressively looked for a new job that I would enjoy and be able to contribute.
3. Only after I had accepted another job did I resign.
4. When I resigned, I did it professionally and strived to leave them in the best shape I could.
5. This didn't happen, but if I was sincerely asked why I was leaving, I would have tried to professionally share the things I thought could make a difference. I wasn't asked, so I didn't provide the feedback.

Burning bridges is never a good thing. I've been literally stabbed in the back before by bosses that lied to my face. I did not burn the bridges... I just became educated about the level of trust I could extend to them and I made sure I didn't get myself into a situation where they could hurt me.... and in some cases I warned my peers that I had a high level of trust with. If you burn a bridge, you never know when it will come back to bite you.

As an example, I had an employee quit on me at a very bad time. I was quite furious with how he did it, and his lack of doing a reasonable turn over before going out the door. I didn't blow my stack and say things I'd regret, but he knew I was furious. Six months later I called him up and got together with him for lunch. I told him how I felt when he left, and I also told him that I understood why he left, and finally I told him that I didn't want our relationship to end on that note and that I wanted to put it behind us and move on. I wished him well in his new job... something I couldn't do when he left. Fast forward a number of years and he had changed jobs a few times and was a Vice President at a tech company. I was changing jobs and needed a good reference, and he came through for me.

You never know when and where your network of contacts will show up or be called upon.

 

[gayl]

But what if you're not interested in working again? Quit or lay off? When do you say? I can cover the gap to SSA with dividend payouts

 

[convergent]

But what if you're not interested in working again? Quit or lay off? When do you say? I can cover the gap to SSA with dividend payouts

There are many ways in life (besides work) that your network of connections can help you. I don't see myself sitting by the pool and reading books in retirement. I expect I'll be active in something... say its volunteer work and you either bump into someone you worked with before, or need to reach out to find volunteers. If you wrong someone, then likely they are going to tell others in their circle of connections and it might hurt you in the future.

Other than the momentary thrill of telling someone off, no good comes from burning a bridge. But certainly its a personal choice. Its just not how I roll.

 

[nun]

I once worked for a small scientific instrument company and grew to loathe the managing director for all his bluster. I now understand that he was under a lot of sales pressure from the venture capital owners so I'm a bit more sympathetic to him. Still I left the company because I was offered a job at NASA. In the leaving interview he asked "Why are you leaving?", my reply was "Given a choice between fish sticks and lobster, what would you choose?"

Bridges burned..............FYI the NASA job was probably the most satisfying work I've ever done.

 

[braumeister]

I don't see myself sitting by the pool and reading books in retirement.

Don't worry; there are plenty of us willing to do that for you.

Leave a towel on your chair to reserve your spot.

 

[Amethyst]

We won't touch it! Promise!

Don't worry; there are plenty of us willing to do that for you.

Leave a towel on your chair to reserve your spot.

 

[gayl]

At Board of Supervisors waiting for closed meeting to end b4 recognition for a hobby job I do ... I'm not telling anyone off. It's not that important. Following the suggestion to:

Take the lay-off. Decide over Nov. and Dec. If you are sure you are done for good, let them know shortly before the new year. You get the best of both this way.

FWIW:
1 told to take off until February last week
1 had hours cut to 16 wk
I was called off Monday told to take tomorrow off too so it's become a moot point. Thanks for talking me back from the edge.

I couldn't be the first person who retired from a layoff

 

[rayvt]

I couldn't be the first person who retired from a layoff

No, not at all. The layoff I took at Motorola had a number of people who did this. They weren't planning to retire, it was kinda forced on them.

But the flip-side is better -- wait for a layoff and then piggyback your retirement onto the layoff. Best of both worlds. You effectuate your plan to retire, plus get a severance package. All ya gotta do is hang in there until the layoff comes.

 

[pb4uski]

..."Given a choice between fish sticks and lobster, what would you choose?" ...

Love it... I'll have to try to remember that one.

 

[athena53]

As I think over the answers to the OP's question, the best answer is another question: What do you believe it will accomplish? If all you want to do is vent, don't do it. If you're talking to the people who created and tolerate the toxic work environment, clearly they know and don't care. Nothing you say is likely to change that. If there are people who are in a position to change things that are definitely wrong (regulators, members of the Board of Directors, some HR types), you may have a case for being honest.

 

[braumeister]

But the flip-side is better -- wait for a layoff and then piggyback your retirement onto the layoff. Best of both worlds. You effectuate your plan to retire, plus get a severance package. All ya gotta do is hang in there until the layoff comes.

That's what I did. Layoff morning was priceless. Managers all had long faces, apologizing that they had to let us go, and my grin was so wide I thought my face would crack open. Not sure they really got it, but I was ecstatic. I had already cleaned my desk out a few days earlier in preparation for it, even though it was supposed to be a sudden surprise (yeah, right!) to the staff.

 

[brett]

Mine was more challenging. I was thrilled to get the chop. I anticipated it and even had done research as to which lawyer to engage.

Once it actually happened I was thrilled but I had to contain my pleasure until such time as a settlement was reached. People in my area were full of condolences. Peers were offering contacts for other employment opportunities.

I won the lottery. I ended up with a full DB pension at age 62, 23 months of severance pay, followed by 38 weeks of EI. It was the icing on the cake for our FIRE. Walked out, never looked back. Why work when there are so many interesting places in the world to explore?


I was in senior management. We knew exactly how challenging things had become (at a multinational). So did the exec that I reported to. The employee survey results were abysmal. So why bother to unload and spout off? It would not be to the company's benefit as they already knew. Take the money, run, and do not burn any bridges. Loose lips sink ships as they say.

 

[HpRyder]

I worked as a rented employee of a contract company, a contractor. All day long client was calling contractors & employees into small conference room for 1 on 1 discussions. I had seen this many times before so I knew what was coming. When my turn came I simply asked when was my last day was (60 days hence) and I had no hard feeling for a great 9 yr run. Unlike the other meeting during the day, mine took 5 minutes. Afterwards I heard, from a couple employees, of a BoA refi with a 1% lower rate than I currently had and a free unemployment rider which paid the mortgage, up to 12 months, if you got unemployed. So I applied. About 57 days later the loan closed. 3 days later I and several other contractors were walked out the door.

I think you know what's coming. 99+ weeks of unemployment and 12 months of paid for mortgage payments.

I retired after the unemployment ran out.