Any news?
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I was in a similar situation. I was called difficult to work with when I told leadership the aggressive timelines don't make any sense. I was RIF'd last week.
I've been with Club Med on and off since 1999, both full time and contract. One comment I read was correct, STAY UNDER THE RADAR! This lesson became clear when I raised questions about a product that was being rushed to market (IMHO) , but was clearly a rough prototype of a questionable technology. After I raised concerns (part of the companies mantra is "See something, say something", I was immediately removed from the project. Not long after, I left the company to pursue another opportunity. A number of years later, I contracted again to the Club, and found that the product in question was under under FDA recall, with websites dedicated to the lawsuits surrounding it's use. Hmmm.
VERP? HA! Not going to happen with Geoff and his buddies. They have no loyalty to us. They are cold and ruthless. They will order a straight RIF with terrible packages to please the shareholders.
This RIF will be ugly. Don't believe what he will say why we need the RIF.
they cant do VERP/early retirements back to back , they have to be special, one time things, so they are offered every few years and are a bit different each time. Sorry you missed out last year - with luck you'll get laid off.
No, they would’ve had to start offering it in January to make a difference by EOY. This year will be straight RIFs
Does anyone k ow if MDT will offer early retirement for end of fy24 or beginning of fy25?
Same, I used to be proud @eivm+1qQiefZr
They should offer VERP or voluntary RIF. Some people in the same group may want out and others may want to stay.
Oh, I’m looking. I will jump as soon as I find the right opportunity. After more than a decade of service to Medtronic, I will not jump until it’s advantageous for me to do so. Executive leadership has made working for Medtronic a soul su-king endeavor. I gave a full out effort for more than 12 years. Hoping for VERP so I can have COBRA covered while I devote myself to a full time job search. If no VERP, I will collect whatever MIP they actually pay out plus the retirement savings bump and move on. It’s is shocking even for me to write these words. If you had asked me a few years ago what working for Medtronic was like, I’d always respond “I love working for Medtronic”. Unfortunately, I can no longer give that response.
You should apply elsewhere, don't pin your hopes on VERP. Age discrimination is very rampant in this job market, so you don't want to be caught off guard.
I check my email everyday hoping to see a VERP offer but it hasn’t happened yet. I’m old enough this year. I used to be so proud to be a Medtronic employee and so enthusiastic about the company and products. Now I hate it here. This is the result of endless layoffs, “reorgs”, and new ways to stick it to hard working employees like the five point rating system which we all know is cover for not paying out full MIP.
Who is even left in IT? IT has been RIF every year.
After this round of RIF, I can see many people "quiet" quitting by doing the bare minimum. The moral is at an all time low. Meanwhile, Geoff and his buddies are going to get a huge bonus.
I wish they would ask for volunteers for RIF. I want to put my name on the list. Insane workload since last RIF. The new motto is “Do less better” which really means do all the work your colleagues who were RIF’d were doing in n addition to the work you were doing and “quality is job 1 around here so make sure you do both or all three jobs perfectly and move with speed and decisiveness”.
Huge IT RIF planned for early May 2024, I think and as always.
Medtronic is too cheap for VERP. It's going to be RIF and the severance package won't be like years past.
VERP now a days excludes anyone deemed Operations. We have keep production running. Expect RIF's in the first quarter. IMHO
No VERP this time. Expect a straight RIF this year.
Each VERP has to be a bit different to get called a “one time event” to get written off so eligibility and the benefit will change. VERP 23 had a 5 point addition to pension calc, the FY21 VERP had a higher age cutoff and fewer points added, no health savings etc. who knows what VERP 25 has in store for us.
The minimum age to be offered VERP seems to vary. Last time it was 55+. Other years it’s been 58+ (or another minimum age).
How old do you have to be to be offered VERP?
Congrats on your early retirement, Karen!
Congrats on your early retirement, Geoff!
RIF's could be 2/28 or early March .... need to make the books look good for the MIP. IMHO
Probably not. Verps need to be infrequent and different enough from each other (different eligibility, different benefits) to be considered one time charge worthy. If you do it every year it’s a regular cost of Buisness. I expect layoffs though.
Yes Geoff is taking early retirement this year since he is turning 55