Did they announce a VERP this year?
I know they did it in 2023 (I accepted), and it also happened in 2020 - pretty quietly with COVID going on... seems to happen every 3 - 4 years.
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@OP hearing internally there will be no VERP. seems to be the consensus I’ve heard from many managers and high level employees. Still, possibility but highly unlikely anyone will see a VERP this year. Thought with the managing stake of Elliot Investments that a VERP would be more likely but not seeming to play out that way.
just not seeing VERP. the layoffs will be much more targeted.
if its happening agin this year, probably announced end of this month like last time to give people a chance to review and accept it before it takes effect end of April - they need it to be done by end of the fiscal for special charging it.. the only exception was 2020 when COVID messed everyhting up and it happend in the summer/fall.
The last time the VERP was offered in 2023 I seriously considered it. Instead, all I needed to do was work 3-4 extra months to be a better a better financial outcome (Yield more in salary, insurance benefits, stock vesting, and bonus payouts) than MDT offer package.
Corporate restructuring the company with early retirement offers are designed to cut cost, improve profitability, increase stock price, avoid involuntary layoffs later.
Also, early retirement offers are often targeted primarily designed to weed out senior, higher paid, long term employees, byway of a company legal "voluntary" a form of age discrimination.
Remember the pretense that company is never really doing anything for you.
Rumer around my Campus is something is coming around the April time frame, like clock work. Lets see, I don't believe it until I se it.
@aw
It was if you were 54 by Jan 1 of 2023, I made the cut off by a few days. Got the first pension payment the day I turned 55. And thank you, I knew the announcement time frame was close to late Jan - early Feb!
We had cost controls lifted for maybe a grand total of 6 weeks last year.
At some point if you have to have cost controls all year, maybe your financial planning and targets are dogshit.
So much focus on the bottom line and blank stares at anything that would move the top line.
It’s a matter of when and not if
April will be the season for layoffs like usual
Its crazy how this year that have had hiring and travel freezes for full year starting May, usually they atleast bring in around this time
Meanwhile all these Excom know it all travel weekly wherever they want
@aw that sounds about right. Someone on my old team was a couple years under. He definitely meets the criteria now
I do recall that in 2023 the VERP was posted here, prior to the company announcing it, with ages, job titles and work locations.
Me too ... come on 2026 is our year ! We can do it GM !!!
@OP You'll know here first when they do. There's a large group of us that are checking our in box early every morning with fingers crossed. If the VERP is announced there will be a roadrunner-esque puff of smoke left behind in many cubicles.
Re the 2023 VERP offer - I think it went out late Jan. I know the election period was Feb 13 to Mar 6. I believe the minimum age was maybe 56? Don’t quote me.
@OP I haven't received anything and I did with the last round.