Has there been any news on which locations/departments will be affected?
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The insurance part is what causes difficulties at 56, but you can take the money and get a less stressful job, it may not be what your earning today, but you said you would be almost debt free, that's a gift that doesn't come but once in a lifetime. Get out while you can with a bonus of 60 months pay, and you still will have your pension.
It sure does sound like age discrimination, doesn't it?
I was offered the package. 56 years old and 28 years of service. I’m not ready to go into “retirement” per se, so I’m nervous about my age and ability to find another job that offers benefits and insurance. But, the severance offer of 60 weeks pay and 6 months medical ins stipend, is enticing. I could be almost completely debt free. I don’t hate my job, it’s just stressful and we are getting yet another manager- 5th one in 2 years. None of them know anything about my position or job function. I’m stressed on this decision only because of my years of service.
BB&T has been doing this RIF for the last 4 years. I received one in 2017, after just celebrating 30 years with them, but not quite old enough for early retirement. Left and was gone for 2 years and struggled to find a job. Came back 2 years ago as a teller. Thought I was coming back to BB&T, ,but I am really working for Suntrust.
I heard the severance is better than the original, 3 weeks for every year worked, up to 60 weeks. Not sure if that applies to all or SVPs.
You have to apply for the severance package and be approved. There will be a finite number of slots, they will make the decision to approve or not. Not sure why they are doing it this way, makes it feel like age discrimination to me, get rid of the older folks and give them severance not to fight it. Good way to escape if you can get approved.
Voluntary severance packages will go out June 9th for teammates 55 age and 10 years service last day in September 2021 or later if needed for merger.
Where do you guys hear about layoffs in June?
It’ll be huge, but voluntary
And how big this round will be?