Trying to find out if there is any reason to "opt in" verses taking voluntary.
Has anyone opted in, and subsequently been asked to stay at their job?
OR....once you get notified, is it pretty certain you are gone?
Our whole department (Bank) got the "you are impacted" letter.
Yet many of us are hopeful we will be keeping our jobs.
Has that happened anywhere??
Unfortunately, from what I am seeing / hearing, those opting in at the STL location, are quite a few of the people who were not good at their job in the first place and they know that they can’t get hired for the same pay elsewhere. A few awesome management are opting in; don’t get me wrong, but I fear STL will be left with what rises to the top. The Cream of the Crap (management wise). Far too many of the really great supervisors and managers, are opting out. I doubt they want to be involved in the future and vicious culling.
STL analysts only have 1 realistic option. There are a handful of supervisor positions and the rest are underwriters. Crazy to see how in the dark some of my coworkers are about their options and how this process works when they opted in. Some existing analysts may get bumped down to call center positions. That's it. Study that org chart. There is no opportunity there.
@obt -- While I agree with your sentiment re: St. Louis Bank employees the last day to opt out was Apr. 17. One of the reasons I opted out was that I feared being chosen for the same job.
"if you get offered a position is a different zip/territory/state, do relocation benefits apply? I assume they do for all. Thanks."
NO! If you opted in you should have had a complete grasp of how this works. In my department people are incredibly uninformed. No fault of your own, that's just how poorly this stuff is being communicated.
If you are given a "reasonable offer" (the term reasonable is very generous) of ANY kind, you have to take it. If you decline, you are effectively giving your two week notice and you get no severance at all. You're on your own to move.
If you're in the Bank office in St. Louis, my most heartfelt advice would be to take the voluntary severance and run. I don't have any inside information, but if you look at these cuts and look at the results of the location study, I would bet that the entire St. Louis office will be closed within the next 5 years, and that's being generous.
If you're open to relocating, perhaps it's worth it for you to risk staying around. If you're not, I'd take the voluntary and start looking for other work now.
I opted out and I'll be better off once I get out of that place.
Good question and good answers. Need this info shared.
if you get offered a position is a different zip/territory/state, do relocation benefits apply? I assume they do for all. Thanks.
yes, competed for my job & won (or lost) depending on how you look at it.