Re: 2008 may not be that great, potential job loss
- From: Jenni <Jenni411@xxxxxxxxxxx>
- Date: Tue, 01 Jan 2008 15:21:47 -0500
in article W7KdnX3est2x9-TanZ2dnUVZ_oOnnZ2d@xxxxxxxxxxx, Stanley Moore at
smoore20@xxxxxxxxxxx wrote on 12/31/07 5:11 PM:
Just before Christmas our plant where I have worked almost 28 years is
closing one production unit with the loss of 18 hourly wage jobs. Three
maintenance, 13 production operators and 2 lab analysts.
We are reducing our lab personnel from 5 to 3. I am probably one of those
who will have to leave. I hate to see somewhere I have been for half my life
(well 47%) get gutted by bean counters. Of course I know that beans are the
most important things in this world.
The company is giving great advance notice. The job won't disappear until at
least September 1, 2008 and possibly a little longer. To encourage people to
leave they are making generous provisions. For all those they lay off in
September they are giving counselling, interview technique training, resume
help and referrals to new jobs. Plus those who stay until then are
guaranteed 18 weeks full pay including insurance coverage. This is mostly
for the younger guys who get laid off.
There is some silver lining though. I had intended to work until the end of
2010 when I turn 62 then retire. But they are offering a Voluntary
Severance Program with special appeal to older guys like me with long
service time. They are offering 2 weeks pay per year of service up to 26
years. IOW I can leave in September 2008 and get full pay (base pay, no
holiday pay or overtime, therefore somewhat less than I would ordinarily
make) for one full year as an "inactive employee" then retire in Sept. 2009
and get a pension of $1545/month (or lump sum payment of $176,000). Under
this plan I would also have insurance coverage for the year, and then get
retiree insurance until I turn 62 when Medicare kicks in.
I really hate my original plan of working til 2010 is disrupted but a year's
pay is nothing to sneeze at. I will probably put in for the VSP. If the
company wants to keep me they can decline me which means I would still have
a job. Which is possible as the human resources guy told me he tol the plant
manager that I am a "keeper". Of the 5 of us in the lab 2 are too young
though one of those has a small baby to care for and might want to leave
under full pay and insurance coverage. One guy is a few years younger than I
but he wants to stay. Then there is me at 59 who is ideal for the VSP and
another guy who is almost 67 and has been threatening to retire for the last
10 years but never does. I think management would like to force him out.
I they accept my enrollment in the VSP I could work on my book and get to
retire a bit earlier than I planned. Maybe 2008 won't be so bad ater all.
Take care
Good luck, Stanley!
--
Jenni :-)
http://jenni411.livejournal.com/
"It's the Rapture! Quick, get Bart out of the house before God sees him!"
--"The Simpsons"
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