How many people do they want to take ERP before they start culling the herd?
8 replies (most recent on top)
@d0 everyone maxes out at 52 weeks
@db There are additional $$ provided beyond the $5K + 2 wks per year of service as part of ERP. There are examples and details out on go/ERP.
The ERP is a tough sell in this economy/job market. Most 50 somethings can't financially take the offer as is. The 5k almost sounds good but unemployment is more. The 59 and 1/2 s might take it with the possibility of accessing their 401k as a last resort but doubtful. The few that are already leaving to take positions elsewhere will jump on it. If they want more to take ERP then give info on the RIF severance package for this year. Having ALL the information could change minds. Just saying that benefits will be decreased doesn't mean much without the details.
@OP there will be RIFs regardless of how many accept ERP
They've offered ERP to more than 9K. That does not include those that got the ERP letter but were in an ineligible position (critical / strategic).
The additional $$ paid out are based on your role. You could receive an additional 4 weeks severance pay if you're a senior professional or below, 12 weeks for assoc dir or lead, etc. There's also a $5K "transition stipend" paid out to everyone that takes the offer.
Add in the fact that targeted layoffs will definitely follow as well as cuts to our benefits.
@b5 it’s extra 4 weeks for ERP not 12
@a5 unemployment doesn’t pay out more than the additional 12 weeks being offered though.
People are throwing around 2000 number for totals for layoffs but that is likely just speculation. For those on the fence about erp, you won’t be eligible for unemployment which will payout probably more overall than the 5k they are offering. Just food for thought.