It would make sense to offer a VSP without the age restriction, so the people who did not qualify because of the age can take advantage and company would have to fire less people who want to stay.
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There are just enough people with 5-10 years of experience who are miserable at work but haven't had the guts to leave where I suspect that a VSP would be just enough to put them over the edge. The only thing keeping most of us here is an above average salary (for the less experienced demographic) but two years of furloughs and no raises might change that calculation. How fear because there are plenty of willing college grads to take our place.
by the time they get to these layoffs we be retired
I'm afraid to ask how much COBRA costs these days.
There is no unemployment insurance check from the state with a VSP. If there is a lay-off they usually offer a severance package ( $ and insurance). What you give up is the right to sue the company when you accept the package. If the company has low cash reserve the value of the severance is low. There is COBRA. The ability to purchase health insurance from the company. Can buy up to 18 months of coverage. However it’s the full cost plus 2 percent
The company should offer a package to the one's that are old enough not to need insurance when they leave .
Yes, I believe they would.
The Directors would prefer that peole eliminate themselves rather then them, the Directors having to do the deed.
Never happen at PW.
There was a rumor flying around that senior level directors and above will be given a VSP soon. No clue if it is truthful or not
That would be nice. I would take it.
But I suspect they won't because 1) younger employees tend to be cheaper, and 2) For philosophical reasons the C-Level Execurives hold (I.E. "Why should someone who hasn't paid their dues like I have get so much money not to work!?")