Thread regarding ADP layoffs

ADP going out of business? Come on! What kind of crazy crap are you putting out here. ADP is one of the most solid companies on the planet from a cash and profit perspective. They'll have major issues going forward but I think almost any competitor would trade places in a heartbeat. This retooling may or may not work, and they are in for 3-5 years of very tough times, but with the cash they are sitting on, they'll figure it out eventually, with or without the current leadership team. Probably without.

For those ADPers who are eligible for this early retirement and are going to take it, I suggest taking the lump sum option since ADP may not be operating for much longer. I know that the government guarantees the pensions of companies that go under, but frequently at lower payout rates.

I’m not even close to 55 but have over 18 years of service with ADP. I would love this option at this point since the new structure is just not a good fit for me. I would take the lump sum and put into Ira to avoid tax penalty. I wonder if I should request the option even though I’m not retirement age. I don’t need the insurance from them either.

They claim this is a one time offer to these employees and it is voluntary you can bet if they don’t accept it they will be the first to be let go. Then they will get nothing. Really something to consider. Take the money and invest it.

They are giving us 3 weeks pay x the # of years worked plus medical dental and vision at close to the same rates for 2 years.

I am taking it on the first day it opens up. I am taking the lump sum option, roll it over into an IRA and the invest it in individual stocks....can make more in the mkt then an annuity...

I wonder how much they would get? My regular ADP pension that I grabbed at Age 60 comes out at $611 per month, which is dang low. And I worked for ADP for almost 3 decades!