So I was able to find what was offered for voluntary packages in 2019 but couldn't find anything about the voluntary packages(?). Does anybody know what they received? Here is hoping for voluntaries being offered and I wanted to post this thread as a reference just in case they are offered.
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In Canada 2019 the involuntaries received 1 month of pay for every year of service to a maximum of 24 months pay. The voluntaries received 9 months pay and 6 months of 50% being at the office. Works out to 12 months pay.
A friend of mine got an involuntary. He was jumping for joy!
Cobra is for 18 months per government regulations not 12 months as stated by a previous comment. Also, I understand that the allowance that Ford provides to the retirees is enough to cover the cobra payments. Hope this helps.
There were only in-voluntaries in 2019 (SRD). Voluntaries were offered in 2018 (9 months severance), 2020 (9 months), 2021 (6 months).
Of the 30k some employees about 10-12k are in the GRP. About a 1/3 of them have over 30 yrs. 20-24 yrs and 25-29 yrs are about equally split. That pretty much rounds out the pre 2004 workforce.
Years of service would capture a few more but if they want 8000 the cuts will need to go deeper.
The VSSP in 2021 was 6 months pay and 6 months medical. Then you could go on an additional 12 months COBRA. In other works, Ford paid your COBRA sort of.
The reason why in the past they increased the amount was due to a low take rate on acceptances.
I think you missed the last sentence. As of now, (new), the amounts now match. Invols WERE 9 months for long serving employees, but appears to have only recently been just dropped down to 6 months.
So I guess if voluntaries are offered, it's better to hold off on an involuntary package then (per what has happened over the last several years)?
In 2020 they offered 9 months pay for voluntaries. (And then doubled that to 18 months pay, but the extra 9 months was only for certain areas, not all areas (back then yes for purchasing, no for pd for example.)) In 2021 they only offered 6 months, thus why the very low take rate. Invols were 9 months for long serving employees, but appears to have only recently been just dropped down to 6 months.