Can General Electric offer us voluntary buyouts? I'd be happy to take one right here, right now. Might even save somebody's job. Please, GE?
8 replies (most recent on top)
Im p-ss-d, was denied VRIP 2019 . What a great manager, what a way to motivate a team.
How would like to be the manager who does this, I can only hope the manager has her day someday.
@QOtcK2C-1fic: I doubt if GE will be that generous for VRIP benefit packages this time around given the financial condition of the company. Good luck.
Power is likely going to offer VRPS (voluntary retirement packages) in the first half of 2018. These packages typically include 1 week pay for every year with GE, supplemental pension till you hit 80% of SS benefit (when they assume you will sign up for SS) and depending on how long you have worked for GE, the healthcare benefits at or around current cost. All in all it's a good package likely made more appealing if they free your pension at the 12/2017 level which what is rumored. I just turned 60, don't want to retire but may take it if offered to start a 2nd act somewhere else. Been with GE over 35 yrs, 2 divisions and several BIG reductions but I have never seen morale this bad.
+1 - I'd jump the ship too. Planned to retire in 2 years, but if they were to offer a VSP I'd jump on it
Yeah, they're going to buy you out with 1 million Impact points... That should get you a cup of coffee.
Buyout? What does GE have to buy from you? They can terminate you tomorrow and give you nothing. Be careful what you ask for.
GE power profit dropped 60% and getting worse with lousy cash flow
It is more expensive to buy out employees
I believe they will just lay people off the cheapest way possible and even hope employees will quit and go elsewhere so they don't have to cover benefits . GE is in big $$$ trouble
I would officially write and see the HR rep. and let them know that you are willing to volunteer for layoff [voluntary job elimination, vje] for the "right severance package". Few people did that in the division I used to work for and they were granted on a case by case basis. Basically if the employee is dispensable and the business is not doing well, the company will allow that.