Poll: OMY - how many?

[rodi]

It's kind of odd that they did not accept volunteers.

I've survived (?) RIF's coming about every 6 months over the past 5 years. My company was split - (rif's before and after), sold (rif's before and after) then my division was sold last year (big rif's after that one.). They never asked for volunteers... though I let bosses know I was fine if they wanted to let me go and save someone else's job.

19 years at this place, on my 7th payroll corporate title, and never once have seen them ask for volunteers.

Rumor of another RIF coming next month or the month after... A severance would definitely kick me out of OMY.

 

[Spanky]

I've survived (?) RIF's coming about every 6 months over the past 5 years. My company was split - (rif's before and after), sold (rif's before and after) then my division was sold last year (big rif's after that one.). They never asked for volunteers... though I let bosses know I was fine if they wanted to let me go and save someone else's job.

19 years at this place, on my 7th payroll corporate title, and never once have seen them ask for volunteers.

Rumor of another RIF coming next month or the month after... A severance would definitely kick me out of OMY.

You are truly a survivor. The megacorp for which I used to work has been asking for volunteers every 6 months. The voluntary layoff request, however, must be approved by management. The initial severance package was very attractive and progressively became less attractive. The number of volunteers has steadily reduced as a result.

 

[Rambler]

It was four years for me. We were living in Tokyo on assignment by megacorp. In 2007 we decided to head home at the end of 2009, the year we became empty nesters. Problem was, I didn't have a succession plan. I talked with global CEO about it. He asked me to stick around for 4 more years in exchange for a pot o' gold at the end of the rainbow. Turns out, our plans in early 2007 didn't take into account the 2008-9 recession. I'm pretty sure we would have come out ok, but with the extra 4 years, the associated savings, bonuses, stock options, and the golden handcuffs we are much more comfortable now than we would have been in 2009.

R

 

[RobLJ]

Ditto except I am doing some pent up spending now while I am in OMY.

I made the mistake of telling DW last year that after I qualify for retirement at the end of this year, we had a 95% chance of meeting goals at 4-5% withdrawal rate. I'm 55 and she is younger, so now the plan is OMY for me and for her to find a new job (at less pay) to move to the PNW nearer our DSs. I plan on semi-retiring at 35-40% of pay, so some here wouldn't call it retirement, although I would.

With the sons graduated and self-reliant and after paying off the main house (we have a mortgage on the small cabin in high altitude Colorado), we're saving at a soberingly high rate but also spending (for her) on vacations, including a 30th anniversary hike for us in the Lake District in June.

Barring recession and market collapse, it's 18-24 months more for me. In case she loses a job in the PNW, I'd like a path to scrape by on semi-retirement and 6% withdrawal rate from my retirement until I qualify for SS. Otherwise, I could retire in a few months--with increased long term risk--as soon as I qualify for retirement.

3 more years and I'd be in like Flint, but her working another 5-6 years pretty much eliminates the risk, barring catastrophe and life's slings and arrows. So OMY or TMY.

 

[robbridg]

I wish I could vote (not retired) but it would be NO.

 

[Lsbcal]

At both megacorps (acquired & acquirer), layoffs are done to groups/projects/employee job functions no longer needed for the company. I managed to avoid standing in a wrong line, did enough to be needed, etc.. It is a curse.

Nice way to put this (in red).

I stood in the wrong line in my final work assignment. Turns out it was for the best.

 

[Donzo]

No, I was so fed up with the corporate BS. I started to read about early retirement - that's how I found this forum. Crunched numbers....was elated to find I had enough to jump. Talked to wife, thought, crunched numbers, sleepless nights, crunched numbers. Gave notice about 6 weeks after realizing I had enough cash AND BS. Got free at 49 and still loving every day

 

[Hermit]

I started to do OMY when my son said he was going to take OMY for college. My OMY lasted 3 months and I was done. That was a painful 3 months (except for the 6 weeks I was on vacation.)

 

[HFWR]

My intention was to retire in 2016, when I'll be able to supplement my portfolio and a scrawny pension with SS. The stars are beginning to align; have w*rked enough hours this school year to qualify for six years on the pension, and should be qualified for seven about this time next year.

The original 2016/62yo plan is 2.5 years out; I may end up w*rking one less year...

 

[robnplunder]

Nice way to put this (in red).

I stood in the wrong line in my final work assignment. Turns out it was for the best.

Another way to look at it is that you stand in the right line unknowingly. I wish I could have done that. If I did, I had no choice to RE and make it work with what I have. Instead, I am at OMY for two years.

 

[foxfirev5]

Since next month was my original date, I don't think the class of '14 target will be met. I've already scheduled myself out to September. Maybe a workforce reduction would help me along but I don't see that in the immediate future. Also the healthcare situation has a lot of unknowns. So it probably looks like 2 more - Feb 2016. With that I'll still make my goal of retirement before age 60.