#benefits

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This is terrifying..

Im sorry to everyone affected, the market is he-l right now. oversaturaded is an understatement, not to mention meritocratic hiring practices have been done away with in exchange for inexperienced workers who will listen better and take less pay/benefits. If you got hit today, get out there ASAP. Do not wait.

#Layoffs #JobSearch #Benefits #Anxiety

How are the benefits at Vanguard?

Considering an offer from VG and curious as to the benefits. Coming from a firm where I had 5 weeks PTO, 10 sick/personal days, and in office 4X week, 8-5 mandatory.

Had 3 interviews and got 3 different stories on the in office requirements. One said M-F in office 1st year 8-5, then T-Th in office 8-5, M/F home. Second manager told me same thing except M-F only 1st 6 months. The 3rd manager told me from the start it will be in office 3X week after the first week and most people come in between 7:30-8:00 and leave at lunch.

When I asked about PTO, I got “18 days and that includes vacation / sick.” That seems low.

Does VG cover medical insurance premium?

#Benefits

Health insurance

What's the situation here when you're laid off? I have a kid who needs regular prescriptions and I can't afford to lose coverage. When I was let go from my old job, COBRA let me stay on the company plan but I was paying the full premium plus two percent, which was not cheap. I'm hoping there's a better option here.

#HealthInsurance #COBRA #Benefits #Layoffs #Dependent

FT hours now down to 30

With this auto schedule program if you don't have 100% open availability you won't be scheduled because TLs aren't able to adjust it at all and our store was told today by TMS that full time hours are now 30 instead of the 36 we were getting looks like we will all be losing benefits as well since 30 hours isn't considered full time

#FullTime #WorkingHours #Scheduling #Benefits #BenefitCut

pension lump sum

After nine years with cvx, I am planning to move on. I just have a perhaps stupid question: since our pension is vested after 5 years of service, will we get all the lump sum number shown in total awards webpage if we choose to take it out? and if we choose to let company manage it, the number will continue to grow as we approach 65 right?

#Pension #PensionPlan #Retirement #Benefits #Vesting

HRA with HealthEquity

Any of the recent VSP retirees have any luck getting your welcome packet from HealthEquity who is supposedly administering our HRA accounts? We were supposed to receive it in April, but I have yet to get anything from them. I did purchase a Carefirst plan on the exchange, so I’m trying to get my reimbursements started? Thx

#HRA #HealthInsurance #RetirementBenefits #Reimbursement #Benefits

Maybe they could change their reputation

If they started offering Cafeteria Benefits allowing people to pay for selected coverage and not for coverage they will never/no longer need such as OB, Peds, or opt out of other coverage options to include BH, SNF, etc they might actually be seen as a decent provider other than a greed machine. Healthy and younger people may not need any of this coverage and could add it much later in life. Along with stop forcing house staff to buy the Cadillac plan of the year vs basic coverage. I for one don't need a variety of coverage, and I damn sure am not interested in their "high touch" BS offerings.

#Benefits #HealthInsurance #Cafeteria #Reputation

My Current Thinking...

Salary and benefits are likely the biggest drivers of these cuts, people talk tech and AI but I am not sure if these are primary drivers... Anyway we (and others) may use opaque AI tools to hit cost-cutting targets, which can overlook performance, tenure, and so needed knowledge. High earners (even strong managers) can be cut simply because they just cost more.

Not sure how much we can change here but we can be ready. Polish your resume and stay alert. Leadership answers to shareholders not us, and layoffs are often the fastest way to cut costs when stock performance drops...

I know most of you are already aware, so I am preaching to the choir.

#Layoffs #CostCutting #AI #Salary #Benefits

The Math of Shares or Stock Benefits

Every year Oracle used to pay its employees through Stocks and Less raise (2-5% in salary)
Usually this amounts from 100-300 for people joined and 30-100 for refreshments.
Lets go through the math:
Oracle uses "SELL-TO-COVER" concept in stock where 35-40% of stock is taken to cover the taxes. So if I get 100 stocks, you finally have 60 stocks in your bucket.
So if you get refreshment of 30 stocks, the actual count you are getting is 18.

Total Stock Granted -> In Hand -> Total Cost Basis
325 -> 195 -> $29,500.00 / year
300 -> 180 -> $27,000.00
250 -> 150 -> $22,500.00
200 -> 120 -> $18,000.00
150 -> 90 -> $13,500.00
100 -> 60 -> $9,000.00
50 -> 30 -> $4,500.00
30 -> 18 -> $2,700.00 / year

There will be additional tax on top of the Total cost basis like Capital Gain and Gain taxes if you withdraw in an year.

This stock is just a cover up for the low salary Oracle is paying to its employees.
Oracle also forfeits this stocks when it does a massive layoff which means it is paying in pennies compared to other high tech companies.

#Stock #Benefits

MW would benefit...

...from an externally driven price hike because it can mask major internal financial inefficiencies.

The 2000-2014 period is a really good example - long-lasting oil price increases helped conceal ops sh-t and large cost overruns during the DO’R and JW eras....

And then those issues became too visible and contributed to JW being pushed into retirement.

#Benefits

Use Ford to create your future

Working for decades at Ford and living though the slow decline from the most profitable car company in the world to a second-tier floundering truck company gives me perspective on how to use Ford for my benefit. If you work at Ford and are not an LL5 by 35 you’re too old to be promote, stop trying. Stop doing all the additional duties, stop working night, weekends and during lunch. Ford pays for eight hours a day, five days a week, given them their time, do your job, nothing more, nothing less. Take every vacation day and every personal day, max your Ford matching, let Ford pay to upgrade your skills. Take advantage of every Ford benefit, never leave a single dollar of Mr. Ford’s money on the table. Ford is a paycheck, your cash cow to allow you do to other things Use your time to make yourself smarter and richer, learn to invest actively. If you can average a 15% return on your investments, you double your money every five years. After 25 years of investing my ETF returns are significantly more than my Ford yearly income. Also look at getting a side hustle and double up on a monthly check. Do something you like that makes a few bucks; every dollar counts. Remember, Ford is just a tool to pay your bills, use the tool to create your future.

#Advice #Benefits #Career #EmployeeRelations #WorkLifeBalance

"65 is the new 55" as far as retirement goes

with the current state of the cost of medical coverage. Not just at Verizon, but nationwide. Could it be that when these multi millionaire Fox News hosts call us SoCialiSts for wanting universal healthcare here in the US, they might not not really have the working stiff's best interests at heart?

#Retirement #HealthInsurance #Benefits #Healthcare

Be careful

Got my cobra estimate retiring early it’s like $1200 a month. Better check your fiqures before you pull the trigger on retiring early. It’s an eye opener!!
Bumping this so folks don't miss it. Too many are so focused on leaving as soon as possible (not that I blame anybody) that things like this get overlooked.

#COBRA #Retirement #Benefits #HealthInsurance

Severance info

Severance is based on a formula. The formula takes into account your years of service and your grade level. The maximum amount of weeks is capped for each of the grades. For example, a grade 40 with 10-14 years of service will get 20
Weeks of severance. Additionally, to get around WARN notice requirements, they may set your actual termination date into the future(and you will get paid regularly until that date). Thy will also pay your benefits via COBRA for 6 months . While getting laid off su-ks, the package is usually fairly generous
OP: @a4+1kpp75mr6

Thought this might be useful ahead of layoffs.

#Severance #WARN #COBRA #Benefits #Layoffs

What's so hard is we used to be amazing!

We were a smaller bank that loved its people. Like the year we all donated 2 days of vacation to save employees from being laid-off? Or the time we took stock options instead of a full bonus or when you could still volunteer at your church, helping the homeless with bags of food and clothing and count that as a volunteer day, or when we respected women leaders and promoted them, or when RD said he knew we were the best bankers and to go out and prove it - and we did! Q after Q!

In the last year we have lost so many benefits, our self-esteem, Clients, our edge, our talent. Just chip, chip away until us seasoned, experienced worker bees (remember when it was ok to not WANT to step over dead bodies to save your job and you could just have pride in what you did) leave for greener fields.

I appreciate growth, promotion, and working hard to get there. I have won numerous awards at USB for top sales, but one day you just realize the top tier cancer has eaten too much of the good to outweigh the bad and you know there is no treatment for the cancer and so you abandon the host and find a new clean place to do your best and give your all and grow. I can't believe the number of people leaving and then taking all their top talent with them. You think a LTI loss forced signature is going to stop them? The new banks have already given them a sign-on bonus that took that pain away.

We used to be amazing for our Clients, employees, partners, vendors and now all we are is painful to watch.

Yes, I am leaving for a new job and so I can say all this, but I grew up in this family and it is hard to watch and extremely hard to leave my siblings behind.

#Benefits #Culture #EmployeeRelations #Layoffs #Retention

Not Lazy, Just Expensive Soon

This is the reality.
NRE employees are not being targeted because they are lazy, noncompliant, or underperforming. That narrative is convenient, but it is not the truth.
They are being targeted because they are the most financially strategic group to remove.
Employees who are already retirement eligible have already earned their pension and benefits. If they leave, the company still carries those costs, including payouts, healthcare, and everything that comes with it. The liability is already locked in.
Younger employees? Many of them will be impacted anyway as AI and automation continue to evolve. They have not accumulated significant pension value yet, so the financial upside of removing them now is limited. They walk away with relatively small payouts, which would likely happen in the near future regardless.
But NRE employees are right at the threshold.
They are the ones about to qualify for meaningful pension payouts and lifetime medical benefits. That is where the financial exposure is. That is where the delta is. That is why they are being pushed out before they cross that line.
Not because they are all poor performers. Not because they are disengaged. Some are, some are not, but that is true of every group.
So let’s stop pretending this is about laziness or attitude. It is not.
It is timing. It is cost. It is strategy.
What is frustrating is not just the outcome, it is the narrative being used to justify it. Do not label people as lazy to explain decisions that are clearly driven by financial incentives.
People see what is happening.

#CostCutting #Retirement #Benefits #Strategy