My Director friend was surpluses close to his 65th bday, and was told to keep it to himself, later AVP shared with team that he retired; he was a GOOD honest boss and did his job well, disliked politics; very sad how they lied about retirement
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They may have given him his retirement AND his surplus benefits on the hush hush.
This happens a lot. VP level and above get surplus and out of the blue “their retirement is announced!” But it’s good for them they get 6 months of extra pay.
What defines "retirement eligible" for a director level employee?
That's not a bad deal. If he was surplussed and had time in the company, he would have picked up 6 months salary. If he is under 65, he would have also received 6 months COBRA. Basically, he was able to start his retirement a little early while still getting paid and having healthcare paid. If he was 64 and a half years old, COBRA would have bridged him until he could get Medicare. ATT UHC plan is cheap. If this happened before the new year and he had any vacation time left, he would have been paid for that as well. That is a great way to leave the company.
They ran of pots installs xbox jumper wire so he retired.
l2-l5 should all be surplusssd. they add no value to the company.
Level 4 and above should be a primary target for cutting.
If he was retirement eligible, that is what it would have been keyed as. He might not have been ready to leave yet, but T was ready to cut him. Employer decision to start right sizing the business.
cry me a river - perfect timing - 6 months pay. I believe your pension contributions increase as you go up the food chain.
He needs to speak up. Unless there is something he is not telling you. If that’s it then he needs to just go. Until we all stand against them they keep winning
this sounds like HR age discrimination
Lying is so common inside AT&T. It’s the Communist way!
OP said CLOSE to his 65th, so before turning 65; Unfortunately, ATT will do that to people, as they don’t care
They probably did him a favor and let him stay on to meet his retirement numbers in exchange for his silence.
This should happen more often than it does.
I heard a few cases like that too