I remember two San Jose folks who took the 2011 deal selling their homes and taking the ER $ and "R"etiring. Legitimately. Sounds like this ain't that..
My neighbor was offered the ER. I was LR'd three years ago. Essentially the current ER seems to be on par with a 2017-ish LR payout.
Call it LR+ perhaps.
Try to laugh about it all. You will make it through.
55+ with this LR+ package seems pretty doable. Each person in their own circumstances. Starting to wonder how much longer this company will be around.
Sounds like some anonymous advice from someone in the know, IMO...
"Now, if you can't retire now or very soon, probably best to pass." - But the company has just sent you a very clear message; you are expendable. If you pass on it now and get laid-off 6 months from now (very possible....remember you are on the short-list) the package may not be as good.
Bird in the hand....
If you are at or very near retirement age, this ER, while weak, may be your best chance to pocket a little cash. I can start collecting SS and 401k pay outs now. In this case I would pocket whatever ER funds I get. If I wait and then get the LR, I'll probably end up losing some cash. Now, if you can't retire now or very soon, probably best to pass.
The CEO and his ELT buddies are already laughing, in front of employees that is...