How safe is a severance offer?

[Humbooster]

Yes that is a good one too...

 

[Gumby]

Nice video. I was expecting Steve Miller's "Take the Money and Run" which is a classic.

So that's what the lyric is. Hmmm. I always thought it was "Bacon, honey and rum." You know, the official ER.org cocktail.

 

[big-papa]

And I'm gonna add, that in my years of observation, and having survived dozens of restructurings in my work life, if the ship is sinking fast, usually the first wave of severance offerings is the best. The terms get skimpier and skimpier with each successive wave of cuts. I suspect this is because the senior management and HR folks design the first one for themselves and get out while the gettin is good - have seen this play out a couple times.

My experience to a tee both as a contributor and as a manager: first packages are the best. Because of the risks involved, I wouldn't spend a lot of time trying to optimize tax on this and would take the money & run.

Cheers.

 

[pacergal]

It's a mega sized company with lots of debt. There is no negotiating it. I will follow Steve Miller's advice and everyone else here and take the money and run.

Good choice.

 

[Koolau]

So that's what the lyric is. Hmmm. I always thought it was "Bacon, honey and rum." You know, the official ER.org cocktail.

I can see it now. The honey and rum are a mellow mixture with a nice medium brown color (gotta use dark rum.) It's a thickish liquid because of the honey. Sticking out as garnish is a crispy piece of bacon. As you move your cocktail glass around, the bacon "sprig" gently and slowly moves from side to side through the drink.

If anyone tries this drink, let me know how you liked it.

Can you imagine asking your bartender for a "bacon, honey and rum?" Of course, he's probably heard that one 100 times. If Gumby thought of it, he probably shared it with every bar tender he knows. Conversely, he may well have heard it from his favorite bar tender.

Returning you now....

 

[almost there]

Mine was taxed as a bonus. 46% total...175k before taxes.

 

[eleighj416]

Having through many restructurings, reorganizations etc. on both sides of the fence in my career. Take the money and run any time you can.

 

[azxracer]

1 dollar today is always more valuable than 1 dollar tomorrow.