Wow, the big announcement at work today...

[doneat54]

Bomb dropped at megacorp today, they are shutting down my entire product/mfg operation and moving it to the west coast. Oh and "your job will be gone next year, but here is a retention bonus if you agree to stay through the end of 2016". My "walk" date is/was 2/1/2017. "Oh but wait, you don't want to retire, you want them to let you go, so you can collect a 3/4yr salary severance". Oh, your end date falls a month short of your pension date? Don't worry, we'll cover that for you, you'll get you full pension amount.

Nice six figure "re-org" for me at work today. Sad though for hundreds of co-workers who are fretting their futures today....

 

[ImThinkin2019]

Hi doneat, congratulations! My wife is hoping for something like this.

 

[tmm99]

WOW. That is like a "only in my dream" kind of scenario. Congrats!


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[Exit 2024]

Don't you love when stars aligned like that !!! Congratulations!!!

 

[FUEGO]

Awesome news.

My wife's company recently announced mass layoffs (11% of the workforce). Unfortunately they are targeting high cost of living areas (primarily in Europe) and we don't live in one of those. There's still hope though I guess. She would get ~9 months severance if let go. She's ready to quit any time and may just do it anyway in January/Feb or once it warms up in the spring since the layoff and severance is speculative in her case.

 

[travelover]

Congratulations. I got lucky, too, with a buy out when I was planning to go anyway, but I still have survivor's guilt for the people that got hurt.

 

[Neill]

Pasteur said 'Chance favors the prepared wallet'.

 

[dirt_dobber]

Congrats to you!
When it (the package treatment) happened to me a month ago I was elated. I had been doing the OMY thing for 4 years and didn't have the courage to make the jump myself. The severance pkg. gave me the jump off the diving board I needed.
I have been so happy (and busy) and notice all kinds of changes in my life!

 

[bingybear]

Bomb dropped at megacorp today, they are shutting down my entire product/mfg operation and moving it to the west coast. Oh and "your job will be gone next year, but here is a retention bonus if you agree to stay through the end of 2016". My "walk" date is/was 2/1/2017. "Oh but wait, you don't want to retire, you want them to let you go, so you can collect a 3/4yr salary severance". Oh, your end date falls a month short of your pension date? Don't worry, we'll cover that for you, you'll get you full pension amount.

Nice six figure "re-org" for me at work today. Sad though for hundreds of co-workers who are fretting their futures today....

parting gifts...

 

[rodi]

That is truly a case of the stars aligning in your favor.

I held on for a package for 3 years... never came so I quit anyway. Wish I'd had your timing!!!

Congratulations.

 

[Philliefan33]

Excellent! Could you contain your glee in front of your coworkers?

 

[REWahoo]

Excellent! Could you contain your glee in front of your coworkers?

It must have taken some real restraint to keep the "I just won the lottery!" grin off your face in front of all those folks who just had the rug pulled from underneath them.

 

[Independent]

Wow. I was hoping for something like this for the last few years. It hit other departments, but never mine.

This forum is a good place to celebrate.

 

[mystang52]

Great news (for you) ! Enjoy the gift, and as others said keep the joy private. I'm sure some co-workers are less than happy right now. This is like that car commercial of the guy holding his baby when his team wins the football game; he gently hands the baby to his wife, quietly goes into his car, and then screams for joy.
Very happy for you.

 

[ziggy29]

I planned to leave Megacorp by the time I was 50 and slow down. Well, they got me more than two years earlier, but with 6 months' severance pay in the bank and with all calculators predicting firm success with retirement, it turned out to be one of the best things that ever happened to me. But yeah, it sucks for the people who were screwed who really still need the job.

 

[TallTim]

Congratulations on the way things worked out!

I've seen this before and it's such a mixed bag/blessing.

Reminds me of my last day when the SVP of HR assigned a relatively junior HR person to do my exit interview ... and she kept saying "You're signing a severance agreement ... but you look so happy and relaxed ... I'm confused" She had no idea what was really going on and I didn't bother to explain it to her - not my problem anymore - but when she got to the checks and saw 2 yrs of pay and 2 months of accrued sick and vacation pay I think it began to sink in.

Best of luck to you in staying motivated and engaged during the transition. It may be tough to spend the year in shut-down mode with lots of negativity all around -- but keep your eyes on the prize and you'll be golden!

 

[Greencheese]

While I have several years of working left to go I know the feeling of things working out very nicely. Its tough to keep that lucky feeling to yourself when others are having difficulty with the exact same outcome.

Either way, congrats!

 

[GravitySucks]

Congrats! But now you have to figure out what to do throughout January 2017.....


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[bingybear]

Congrats! But now you have to figure out what to do throughout January 2017.....


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I would say party. But I saw those who stayed were bored... not much to do. And most did not do much work for the company. It was somewhat limiting looking for new jobs... but the OP is not looking for one.

 

[martyp]

Congratulations. I wish I could have been laid off. I would have been eligible for up to 6 months of pay.

 

[Bamaman]

Another congratulations. They call this "consolidation." Our MegaCorp consolidated from 8 locations to 2 locations in the U.S. that were not in desirable, low cost of living states. There were no takers to move to those 2 offices. That was their way to cut expensive, very experienced heads and replace them with kids out of college working cheap. Our office originally had 125 workers 9 years ago, and only 2 remain today.

It's great to get the severance package. I was also fortunate to draw unemployment compensation for almost 2 years. Hopefully you can too.

 

[chris2008]

A blessing in disguise for you.
But only because you are well prepared.
Congratulations!

 

[JOHNNIE36]

doneat58, congrats on your upcoming separation/retirement. Great for you and sad for others. Sounds like a good package. I'm in my 27th year of retirement and have enjoyed every day of it. Can't believe it has gone by so fast. Best wishes.

 

[pjm-7]

Congratulations. Sounds like a great package. Luckily, you are prepared and can take advantage of it.


This past summer my previous big company had an early out package for the long-timers (translated = the old people) to leave. I knew a number of people that couldn't jump at the chance fast enough. However, I know of people that because of supporting their adult children (and the babies that came back home with them) were not able to take the package. So sad that an opportunity passed them by.

 

[karen1972]

Super congrats on the timing, we had lots of lucky people who swung a similar deal; however, I somehow managed to get put in the part of the company that got bought out, got my retention bonus but lost my severance so ended up being a wash.