Take a buyout or not

[mystkev]

A couple of months ago I believe I mentioned that our union contract would be up on June 30. Well as of 7/19 they are still negotiating the terms of this contract, actually management has given us a contract that we have to take it or leave it come 7/25.

Well today managment put out a notification stating that they will have buyouts. The amount they give you is based on your age and years of service. Also anyone w/5 or more years of service will get 2 wks/yr from the union.

So here's the scale:

55 and over - 3wks per year
40 - 54 - 2wks per year
40 and under 1 wk per year

So I would get 3wks per year of service + 3 weeks vacation that I have yet to take. So that would mean I would get 21weeks if I decided to leave. That's what 5 months? Oh, and I may even get vacation accumulated so far, since half the year is over that would be an additional 2wks I guess (possibly).

Now the labor market is uncertain right now, but I am seriously considering taking this buyout. But if I was to get laid off I may get 2wks from the company and 2 wks from the union. Which would be better. I don't know.

I of course will wait until I have more information before putting my name on the buyout list. This is all so confusing, part of me wants to stay here and part of me wants to work somewhere else. I've been trying to get a nice city job for a while now, since they pay more than what I'm currently making. I took a test for one last night, we'll see what happens.

So what does everyone think? Take the buyout? Stay here and hope for a layoff? Stop being lazy, greedy (insert whatever other adjective) and be happy that I have a job?

[Tettsuo]

So what does everyone think? Take the buyout? Stay here and hope for a layoff? Stop being lazy, greedy (insert whatever other adjective) and be happy that I have a job?
I guess that depends on if you like your current job and the direction you're going in it. If not, I'd say consider getting laid off or taking the buyout... whichever will net you the most security until you can get another job.

[zuriyahe]

Oh man...that is hard.

[Melotic]

I wish had that options a few years ago... If that was my option and I were single, I would take it in heart~beat... I usually don't have a problem finding a job... Aren't you in school right now... With that option, you can increase your school load and look for something else...

[mystkev]

Aren't you in school right now... With that option, you can increase your school load and look for something else... Yes I am still in school. This something that I also was thinking about. Doing this will allow me to graduate next quarter like I originally had planned.

I guess I'm just scared. I know I don't want to be here. I'm also worried that even if I do want it that they won't allow me to take a buyout b/c so many of the older people want them.

Damn I wish I was in their shoes 20yrs of service and over 55. Now that's what I'm talking about.

[mystkev]

We will be eligible for unemployment because it is considered a "reduction in force". The current benefit that I am eligible for is enough to pay 1 months rent and some change.

The company will pay a portion of COBRA (if we choose to join) for 12 months after termination.

Hmmm, the deal is getting sweeter.

[Melotic]

Yes I am still in school. This something that I also was thinking about. Doing this will allow me to graduate next quarter like I originally had planned.

I guess I'm just scared. I know I don't want to be here. I'm also worried that even if I do want it that they won't allow me to take a buyout b/c so many of the older people want them.

Damn I wish I was in their shoes 20yrs of service and over 55. Now that's what I'm talking about.
Sometimes you have to follow your heart, you will be surprised... Regardless, what ever you do, best wishes...

[mystkev]

Sometimes you have to follow your heart, you will be surprised... Regardless, what ever you do, best wishes... Thanks :)

[bsmuvdotcom]

Speaking from business stand point, you should take the buy out. If you don't you run the risk of the company shuting down and ending up with only unemployment with is only 65% of you current salary. Then the compnay will re open under a new name 3 months later and hire people back to work for them at 2/3 - 1/3 of the original pay scale the union had them at. I've seen this happen time after time in the manufacturing businesses across america and I'll tell you the buy out is your best option. Especially if the previously mention scenio plays out. Just make sure in your by out paper work it sayes you can never work for that company again could if it doesn't, you might be able to get back on if they do shut it down and reopen under a new name.

Company will fuck you anyway they can thses days and it's a shame.

[mystkev]

Speaking from business stand point, you should take the buy out. If you don't you run the risk of the company shuting down and ending up with only unemployment with is only 65% of you current salary.
Company will fuck you anyway they can thses days and it's a shame. Oh yeah, I've been saying they are fucking us in the ass w/no lube. If we can avert a lockout then I'm definitely going for a buyout. We vote to ratify this new contract tomorrow.

Unfortunately, the Editorial staff is pretty much against it, and saying it's a no go for them. Most of the office staff is planning to vote yes, and it feels like it's us against them.

And what's even worse is that we have yet to see this contract. I was joking w/a coworker that we'll be reading the contract terms while standing in line to vote on it, but it seems like that may really happen.

I am hearing talks of bullet proof and vests and all that. Ummm, lets hope it doesn't come to that. I am packing up all my shit now.

[mystkev]

We did ratify the contract. The application period for the buyout is August 1 -August 31. I am just going to confirm that we are eligible for unemployment and then I am out the door baby. I talked to my manager about my unhappiness, I know you not supposed to, but we were being candid. I let him know I'm not going to school to make what they are trying to pay. I mean come on shoot. He said that I should seriously consider the buyout, but not to take it personal if I don't get picked :p

[mystkev]

Oh yeah I failed to mention I got a 6% paycut, lost a weeks worth of vacation, two lieu days, and a reduction in retirement benefits. The only thing that was getting better was the health plan.

I loved the ratification meeting, just seeing everyone come together like that brought tears to my eyes. A lot of my coworkers are FUNNY. We had one man who had been in the union since 1938. Whew. I know he gonna take a buyout.

[mystkev]

I applied for the buyout so now I am just waiting for the beginning of September.

Yesterday I had a meeting with the CFO and Controller to talk about my paycut. In this meeting they were like you applied for the buyout, people who are happy don't apply for a buyout, why?

I replied, "Well, this job is not what I expected it to be, I want to do more analysis. I want to be in a position that will help me to get a job as an accountant when I get out of school and right now what I am doing is basically clerical work."

The Controller says "This is my fault. Didn't Ken talk to you about this? I want to have you continue doing the audting w/Janet and I also was thinking of you for some other work. We can't make changes until we know who all is going, just bare with us"

Hmmm, they probably selling me a wolf ticket we'll see in a couple of weeks.

[que90nek]

it could be OPPORTUNITY knocking....

in that....

after the mass exodus...there WILL be better positions available......


BUT


you never know till....you know....

[BLACK SINBAD]

Oh yeah, I've been saying they are fucking us in the ass w/no lube. .

Hmmmmmmmmmm, What a concept. :upto:
Oh, that thought belongs in the other catagory.

[mystkev]

Hmmmmmmmmmm, What a concept. :upto:
Oh, that thought belongs in the other catagory. Ummm yeah it does :beating

[mystkev]

Yesterday he came over and told me to "bone up" on my bad debt, we gonna work on that next week. Woohoo :clappinghands:, I'm cool with bad debt.

[mystkev]

On September 9, 2005 at around 2:30pm the CFO & Controller sat me down and let me know that my application for a buyout was rejected :cry:

According to the Controller in 6 months I am going to be saying "Gee, I'm glad that I didn't get that buyout" :rolleyes: Because I will get an opportunity that "people right out of school do not get". He keeps alluding to a new position with all these great factors. I'm waiting for him to stop beating around the bush and tell me the particulars. Before they told me I had to wait until everyone who was going to leave, left.

Now, they have me doing these Profit & Loss statements for two of the smaller products that we sell. Well, the week I get this stuff, someone wants to make a gang of changes. WTF :confused: :beating

The controller was like "is this enough work for ya?" I said, "it's actually too much work" hee hee ha ha hell. Sheesh. I better see an increase in pay real soon. I swear this made my foot swell up.

[mystkev]

Yesterday he came over and told me to "bone up" on my bad debt, we gonna work on that next week. Woohoo :clappinghands:, I'm cool with bad debt. Oh yeah, he thought he was giving me something, hell my supervisor already had me doing it (it was previously her work) :rolleyes:

[TropicanaJuice]

i say weigh ya options either way........ with thoughts in mind of your TRU feelings bout the company/your position/and what u are looking for in terms in employment in coming years

[lovely]

I swear this made my foot swell up.


you made me choke on my slurpee!


sometimes i forget how funny you are...lol

[mystkev]

I ain't lyin, my foot looks like the foot of an older lady w/diabetes. I also have a swollen lymph node on the side of my jaw, it was painful before, but it's gone down some.

I didn't go to lunch until 12:45 (I usually go @ 12) cause these muthafugg wanted me to grayshade a damn excel sheet :rolleyes: