truthbtold
New Member
Hi. My company's business is struggling and they have offered a buyout package to ALL employees. They want over 40 to accept it. If they don't succeed, layoffs will follow. Little acceptance is expected. This is a one-size-fits-all package that must be signed by 12/21. The financial portion is 2 weeks per year worked, maximum 26 weeks. We were each given paparwork with our figures. They will pay for unused vacation under separate cover. If accepted, there is a 7-day revocation period by either party. At the end of the period, the employee will be told the final day of work. I believe that in most cases this will be 12/29 (assuming a 12/21 signing).
I want to point out that a sweet offer was made in '08 for employees eligible only if certain criteria were met. The goal was 20, the offer was 2 weeks per year worked with NO MAX, and only 8 accepted. I was NOT eligible for that offer.
I'm 44 and the job is a dead end street. I believe my only career choice is to accept the buyout and move on. However, this offer only gives me credit for 13 of my 20 years with the company. I'm not liking that part, especially since I was not eligible for the sweeter offer of '08.
My questions are:
1) How likely is it that I may be able to negotiate a more palatable 40 weeks of severance pay? I'm thinking that since it's my first offer, and that since acceptance will be low, that maybe I have a shot? Also, I'm thinking it SHOULD be better for the company to offer me a better package voluntarily and confidentially with no unemployment compensation, than to lay someone else off, which will cause that employee distress, open the company up to a possible lawsuit, and result in unemployment compensation.
2) Is it recommended that I put my "counter-offer" in writing?
3) I acquire 4 weeks vacation at the conclusion of 2009. I expect to be let go 12/29. How likely is it that those 4 weeks will be included in that check under separate cover? Shouldn't I negotiate that as well? After all, to lose 4 weeks vacation pay by 2 days would be upsetting.
4) I get a Christmas bonus on 12/23. Should I assume that I'll automatically still get it, or should that be included in my letter?
Thanks so much in advance for any opinions and suggestions!
I want to point out that a sweet offer was made in '08 for employees eligible only if certain criteria were met. The goal was 20, the offer was 2 weeks per year worked with NO MAX, and only 8 accepted. I was NOT eligible for that offer.
I'm 44 and the job is a dead end street. I believe my only career choice is to accept the buyout and move on. However, this offer only gives me credit for 13 of my 20 years with the company. I'm not liking that part, especially since I was not eligible for the sweeter offer of '08.
My questions are:
1) How likely is it that I may be able to negotiate a more palatable 40 weeks of severance pay? I'm thinking that since it's my first offer, and that since acceptance will be low, that maybe I have a shot? Also, I'm thinking it SHOULD be better for the company to offer me a better package voluntarily and confidentially with no unemployment compensation, than to lay someone else off, which will cause that employee distress, open the company up to a possible lawsuit, and result in unemployment compensation.
2) Is it recommended that I put my "counter-offer" in writing?
3) I acquire 4 weeks vacation at the conclusion of 2009. I expect to be let go 12/29. How likely is it that those 4 weeks will be included in that check under separate cover? Shouldn't I negotiate that as well? After all, to lose 4 weeks vacation pay by 2 days would be upsetting.
4) I get a Christmas bonus on 12/23. Should I assume that I'll automatically still get it, or should that be included in my letter?
Thanks so much in advance for any opinions and suggestions!
