RunningBum
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
- Joined
- Jun 18, 2007
- Messages
- 13,249
It looks like the end is finally coming for me, unless I want to go back to full-time status, which I don't. I was willing to stay on part-time indefinitely, but since this has been coming for a few months now, I'm pretty much ready to go, just don't want to leave empty handed.
I thought my job would be passed on to a co-worker who is also working another project, but now it looks like they are going to move it to India. When my boss first brought this up I told him not to expect me to train myself out of a job, but now he says they would offer me a carrot.
Last year they offered a real nice ER package, but only to those 55+ with 5 or more years of service. One year salary, plus the equivalent of 2 years medical and 401K matching plus outplacement service and an extended period of stock option vesting for underwater shares. I'm going to use that as a starting point to ask for in return for training my replacement. I don't expect to get all of it, but if I got something close that'd be great. I'm also going to make sure it's based on full time pay since I've only been half-time for 2 years. The company doesn't have a pension or a real retirement program. The most I've seen is a retiree medical plan and it's not very good at all.
Alternatively I could just see what package they'll offer me now and let somebody else deal with the turnover. There are other people with the skills, but they are rustier on them then me, and they are also tied up on other things.
Worst case I figure is that it's usually a somewhat lengthy process to fire someone based on performance. From what I've seen they put you on a 90 day plan and I think throw some kind of package out during that time. I could basically retire on the job for 3 months or more. And since they'd be setting up action plans to address the performance problems, I'd say that I don't have a chance of hitting their goals unless I'm full time, so it'd be 3 months at full time pay. If they just out and canned me without the 90 days, I'd be eligible for unemployment and from what I understand they like to avoid those claims so I don't think that will happen.
I'm talking with my boss again on Tuesday to let him know if I'm willing to do the skills transfer, at which time I'm planning to ask for the past retirement package as a starting point. I'd also offer to sign a no-compete clause, which is no big deal to me since I really plan to ER. But I did let my boss know that we have a mutual colleague working at a competitor so I do have another option.
Any tips on what else I can do, or what other options I'll reasonably have? I trust my boss pretty well, he's also a friend and has given me a heads up that this is coming, but he is also obligated to the company. I don't really know his boss and have no basis on which to trust him. Plus I'm the one who has to live with the results so it's up to me to look out for myself. I've also got a call in to an old boss to try to get another perspective from someone I trust.
I thought my job would be passed on to a co-worker who is also working another project, but now it looks like they are going to move it to India. When my boss first brought this up I told him not to expect me to train myself out of a job, but now he says they would offer me a carrot.
Last year they offered a real nice ER package, but only to those 55+ with 5 or more years of service. One year salary, plus the equivalent of 2 years medical and 401K matching plus outplacement service and an extended period of stock option vesting for underwater shares. I'm going to use that as a starting point to ask for in return for training my replacement. I don't expect to get all of it, but if I got something close that'd be great. I'm also going to make sure it's based on full time pay since I've only been half-time for 2 years. The company doesn't have a pension or a real retirement program. The most I've seen is a retiree medical plan and it's not very good at all.
Alternatively I could just see what package they'll offer me now and let somebody else deal with the turnover. There are other people with the skills, but they are rustier on them then me, and they are also tied up on other things.
Worst case I figure is that it's usually a somewhat lengthy process to fire someone based on performance. From what I've seen they put you on a 90 day plan and I think throw some kind of package out during that time. I could basically retire on the job for 3 months or more. And since they'd be setting up action plans to address the performance problems, I'd say that I don't have a chance of hitting their goals unless I'm full time, so it'd be 3 months at full time pay. If they just out and canned me without the 90 days, I'd be eligible for unemployment and from what I understand they like to avoid those claims so I don't think that will happen.
I'm talking with my boss again on Tuesday to let him know if I'm willing to do the skills transfer, at which time I'm planning to ask for the past retirement package as a starting point. I'd also offer to sign a no-compete clause, which is no big deal to me since I really plan to ER. But I did let my boss know that we have a mutual colleague working at a competitor so I do have another option.
Any tips on what else I can do, or what other options I'll reasonably have? I trust my boss pretty well, he's also a friend and has given me a heads up that this is coming, but he is also obligated to the company. I don't really know his boss and have no basis on which to trust him. Plus I'm the one who has to live with the results so it's up to me to look out for myself. I've also got a call in to an old boss to try to get another perspective from someone I trust.