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Wow, the big announcement at work today...
11-17-2015, 01:28 PM
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#1
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Thinks s/he gets paid by the post
Join Date: Mar 2013
Posts: 1,016
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Wow, the big announcement at work today...
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....
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11-17-2015, 01:33 PM
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#2
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Recycles dryer sheets
Join Date: Nov 2013
Location: Hartford
Posts: 358
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Hi doneat, congratulations! My wife is hoping for something like this.
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11-17-2015, 01:46 PM
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#3
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: May 2008
Posts: 5,176
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WOW. That is like a "only in my dream" kind of scenario. Congrats!
Sent from my iPhone using Early Retirement Forum
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11-17-2015, 01:56 PM
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#4
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Recycles dryer sheets
Join Date: Jun 2015
Posts: 405
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Don't you love when stars aligned like that !!! Congratulations!!!
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11-17-2015, 02:08 PM
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#5
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Nov 2007
Posts: 7,746
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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.
__________________
Retired in 2013 at age 33. Keeping busy reading, blogging, relaxing, gaming, and enjoying the outdoors with my wife and 3 kids (8, 13, and 15).
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11-17-2015, 02:12 PM
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#6
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Mar 2007
Posts: 14,328
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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.
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11-17-2015, 02:12 PM
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#7
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Recycles dryer sheets
Join Date: Jun 2014
Posts: 100
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Pasteur said 'Chance favors the prepared wallet'.
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11-17-2015, 02:54 PM
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#8
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Recycles dryer sheets
Join Date: Aug 2015
Location: Bee Cave, TX
Posts: 201
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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!
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11-17-2015, 03:18 PM
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#9
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Thinks s/he gets paid by the post
Join Date: Dec 2014
Posts: 2,509
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11-17-2015, 03:33 PM
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#10
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Moderator
Join Date: Apr 2012
Location: San Diego
Posts: 14,169
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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.
__________________
Retired June 2014. No longer an enginerd - now I'm just a nerd.
micro pensions 6%, rental income 20%
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11-17-2015, 03:53 PM
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#11
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Thinks s/he gets paid by the post
Join Date: Oct 2014
Posts: 1,677
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Excellent! Could you contain your glee in front of your coworkers?
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11-17-2015, 04:00 PM
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#12
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jun 2002
Location: Texas: No Country for Old Men
Posts: 50,004
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Quote:
Originally Posted by Philliefan33
Excellent! Could you contain your glee in front of your coworkers?
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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.
__________________
Numbers is hard
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11-17-2015, 04:09 PM
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#13
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Thinks s/he gets paid by the post
Join Date: Oct 2006
Posts: 4,629
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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.
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11-17-2015, 04:25 PM
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#14
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Thinks s/he gets paid by the post
Join Date: Jan 2011
Location: Fair Lawn
Posts: 2,940
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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.
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11-17-2015, 04:29 PM
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#15
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Oct 2005
Location: North Oregon Coast
Posts: 16,483
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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.
__________________
"Hey, for every ten dollars, that's another hour that I have to be in the work place. That's an hour of my life. And my life is a very finite thing. I have only 'x' number of hours left before I'm dead. So how do I want to use these hours of my life? Do I want to use them just spending it on more crap and more stuff, or do I want to start getting a handle on it and using my life more intelligently?" -- Joe Dominguez (1938 - 1997)
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11-17-2015, 04:38 PM
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#16
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Recycles dryer sheets
Join Date: Dec 2013
Location: Manhattan Beach
Posts: 195
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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!
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11-17-2015, 04:55 PM
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#17
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Recycles dryer sheets
Join Date: Oct 2013
Posts: 265
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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!
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11-17-2015, 06:03 PM
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#18
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Thinks s/he gets paid by the post
Join Date: Feb 2014
Location: Syracuse
Posts: 3,501
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Congrats! But now you have to figure out what to do throughout January 2017.....
Sent from my iPad using Early Retirement Forum
__________________
“No, not rich. I am a poor man with money, which is not the same thing"
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11-17-2015, 06:08 PM
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#19
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Thinks s/he gets paid by the post
Join Date: Dec 2014
Posts: 2,509
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Quote:
Originally Posted by GravitySucks
Congrats! But now you have to figure out what to do throughout January 2017.....
Sent from my iPad using Early Retirement Forum
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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.
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11-17-2015, 07:28 PM
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#20
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Thinks s/he gets paid by the post
Join Date: Sep 2010
Location: Thailand countryside, Sisaket province
Posts: 1,331
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Congratulations. I wish I could have been laid off. I would have been eligible for up to 6 months of pay.
__________________
Happy, Wild, and Free
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