I know older employees are often targeted for layoffs but is that also the case for those who are close to retirement?
13 replies (most recent on top)
Take the pension and run now!! It will only be less and less after the feds fix the economy!! Watch your pension go down if you stay. And it will decrease by $50,000 per $1 million for every .5 segment rate increase!
OP, you have to define 'close to retirement'. My experience is that Chevron will "strongly consider" that you retire, otherwise it's likely you'll get laid off. I know that from someone who retired (but didn't want to) in the 2015 layoff round. You'll hear this in a one-on-one with your boss, maybe over lunch, definitely off the record and with no witnesses. Usually, though, this approach only happens if you're within 5 years of retirement, or they know you've been around long enough that you have a hefty pension coming. All that said, I think the company's healthy enough that you'll make your three years.
Chevron cannot legally ask you about your retirement plans. NEVER tell them (or even co-workers) what you're thinking. Hang around and tow the line. Doing a lot of volunteering will keep you from having to work. Make them offer you a package, although we'll never see one like the 2020 package again.
I was “retired” for the last 10 years while on the job. Little did anyone know, including my boss. I suppose it was my older age that someone finally noticed in 2016. I’m still retired, just I don’t go to the office anymore.
Seasoned managers know better than to ask, unless they want you out.
Don’t fear! Like Mrs. Doubtfire said, “you will be ok poppet! You have skills you will always work! The rest of you should be concerned…I guess
Please target me!
Every time they ask me when I’m going to retire, I say another 10 years. They can always get rid of me if they want to!
"what have you done for me lately" makes perfect sense with our annual performance management system. Do you expect to get raises based on what you did three years ago?
One advice is to not talk bout retirement. If the bosses hear such talk they will put your name on top of the layoff list.
… unless of course if that is what you want
I found as I approached 40 years of service, that certain managers "resented" that my salary was high compared to "C.O." (typically because they wanted to keep one of their Hi PO's employees happy and wanted to knock my salary back toward C.O. to allow that to happen).
Also, most surmise that you are "locked in" and are nearing retirement and want you to go "sooner rather than later". I tried not to take it personally. It was "what have you done for me lately" and newer managers unaware of past significant contributions
If you’re not old, unless you’re d-mb enough to go around saying how close you are to retirement then no one else should know your status.
I'm not saying I expect any layoffs soon, I know we're safe for now. I'm just thinking ahead.