any chance they'll offer another verp?
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I honestly don't believe there will be another VERP. Their cost savings objective was to entice the older staff who were close to retirement and have the higher salaries to leave. A lot of younger folks who were eligible, seem to regret not taking VERP. But think about it, if you met the minimum combined age/length of service, it was a very risky move to leave. If you don’t have the savings to retire, you'll still need to get another job of equal or better salary. The longer you aren't back in the workforce, the faster you'll be eating away at your lump sum severance package. Some of the younger VERPs were fortunate because they were able to find employment quickly. However, based on some of the comments, finding a new job in this industry with a higher salary and in a very short period of time, doesn't seem to be happening.
Most of the people I know who took the VERP either are still unemployed or are working a lower job than the one they had at AIG. Could be that the market was flooded at that time and the job market is slower now. But I know very few post VERP that got comparable jobs somewhere else.
That the severance package is cut to one week.
Someone makes that declaration every time there have been RIFs over the past 10 years.
What is the 10-year lingering rumor?
True that the severance has always been 2 weeks but there was some talk that mgmt was looking to revise that. Is there any info in the 2025 handbook?
The basic severance has always been 2 weeks for every year of service.
You have solid information the severance plan is changing?
Eventually the 10 year lingering rumor might be right.
I doubt there will be another VERP. It was a one time offering. If further staff reductions are needed, it will be a basic RIF with a severance package of one week salary for every year of employment.
Doubtful. I can only pray for a layoff at this point.
If the RC CFO is fired sure they will