Wow…I cannot believe how disorganized they are with this round of voluntary packages. They said in a call yesterday that it would be 2 more weeks before notifications are sent. So poorly executed for a company of this size that preaches empathy and respect.
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@eizd+1qXEON4j 59 by December 31 2024.
@dsfj+1qXEON4j Thank you. I'm retirement age, and ready for the next chapter.
I will miss my SAP colleagues - most of them, anyway. : )
Agree, I started to think, it probably is a new normal to see the most of High Tech employee will have a possible unemployment period from 59-67 or as early as 55-67.
55 is already a tough year to start get job almost any industry. Maybe we need to get prepared way before reaching 55. Start a new career plan that could last until we retire.
One realization I have made at 55 years old is that there is no way I am making it to full retirement age in the US with SAP. I have 4-5 years left and then I will be out of a job years before full retirement.
For the VERP in the US, do you have to be 59 now or 59 by December 31, 2024? Does the communication specify that distinction? I turn 54 later this year so just want to dream about what may happen in 2029.
What’s the deadline for accepting VERP? End of Feb?
RE: Just got the email. 4 weeks per year of service. Age 59 and up. Last day is April 30th.
Thanks for sharing, good luck on the journey, hope this will not let you down.
If VERP has been issued for Q4 FY24, can someone please provide details of age eligibility and general framework of current offer.
VERP 2024?
It was 2015 instead of 2014, just FYI. I know because I just missed it by 1 year of age
Does anyone remember the last time SAP offered VERP?
Anything regarding healthcare coverage?
Our Strategy
We are committed to helping the world run better and improving people’s lives
The above is lifted from the SAP website and we can safely say that this VERP and involuntary layoff debacle shows a failure to live up to the strategy of SAP…Oh! The sick irony of it all.
Just got the email. 4 weeks per year of service. Age 59 and up. Last day is April 30th.
Offers are out in the US.
And, by the way... @9nvz+1qXEON4j is a liar. "sapverp.com" is not any link anyone is being given to use for this round.
Another data point: until today, sapverp.com returned "DNS address could not be found."
Now it's online with the message "The SAP NS2 VERP election window is now closed."
@9rxk+1qXEON4j Ahhhh… and a “Have a great weekend” then, to us all.
Not yet. But in 2019, the announcement email wasn’t sent until almost 8:00 PM.
Oh six thirty on the eastern seaboard and all is quiet. Anyone see anything in their inboxes?
Totally shambolic and if they weren’t so arrogant and small-minded Yes Men, I would be embarrased for them! Instead I’m embarred to be associated by default with this car-full of clowns! How much longer are these inept people going to stretch out the VERP, layoff and RTO processes?
We are just told to concentrate on the present and focus on the work at hand by a neverending stream of “inspiring” executives that tout their people skils and understanding of the importance of empathy across all LOB and all countries. It shoukd be shocking but isn’t.
Either way, I would think the plan they have is by end of Q2, they will have everybody they have targeted ( either VERP or layoff) out of here and all associated costs "in the book" so they can start 2nd half of year on clean slate.
"Imagine how much better and faster this could have been planned and executed if they were collaborating on this restructuring initiative in-person at the office."
I like your style. : )
Kick off? That sounds like Kick Out!
...and the FAQ says " - early retirement in North America, which kicks-off on February 16th.... Kicks Off. I'd say its a fair guess that not everyone who is eligible in NA is going to hear on February 16th. So... it will be a waiting game.
If we all did our jobs like this, we'd all be canned....
Most likely in the April timeframe for Germany it says
SAP leadership must all be working remotely too. Imagine how much better and faster this could have been planned and executed if they were collaborating on this restructuring initiative in-person at the office.
The FAQ says that it's "as of February 15, 2024"... so maybe item #6 was just added today. Wow. What a mess.
Talk about transparency and providing details as they are available right? I guess that meant employees are expected to check the FAQ daily for updates. What a waste of productivity for the past weeks and sheer lack of empathy.
Truly a clusterf***.
Kind of sad that I had to learn about the updated page here rather than on the portal. Thanks for posting
Confirmed. Thanks for picking up on this.
I just looked at the Sharepoint - Employee FAQ (link from CK email a while back) and there is an update as of today, 2/15. Says North America kicks off VERP 2/16.
@8sqh+1qXEON4j
Wow. Talk about missing the point. It is not about "salivating" over an offer, as "Oh Boy... I'm gonna cash out now!" It's about leadership simply executing on whatever dimwitted plan they are putting in place. Its about pulling off the band-aid quickly, not one hair at a time.... We all just want to know what they are offering so we all understand what our next steps should be. Would I prefer for this not to be happening? Of course. But if its going to happen, then leadership just needs to do it's job --- and do it well, for a change --- and just get it done. They demonstrate how inept they are at every turn. Its embarrassing and unacceptable. Period.
I'm not sure why you call these posts "salivating" at an offer. I for one just plain want to know one way or the other if I'm getting an offer. And if not, then I will be just as anxious for the next 6 weeks waiting for the forced layoff announcements. This "let's announce we're 'restructuring' 8,000 jobs but won't let you know who'se affected for over 2 months" is absolute disrespect to all employees and the whole waiting for the shoe to drop situation is very stressful.
For those salivating over a package -- be aware that this may not be the windfall it seems. Even if it is a generous 4 week per year of service offering. You should carefully examine your situation before jumping on the offer.
- Assuming, as it was in the past, the payout is a lump sum you may be in for a tax hit as this may very well push you into a higher tax bracket.
- If you are turning 65 and planned to transition from Cobra to Medicare, your rates for Medicare may be higher than you planned. Rates are based on your last two years earnings which will now be inflated due to the lump sum payment.
- If you are not turning 65 you will need to stick with Cobra. Assuming, as it was in the past, the Cobra reimbursement will also be a lump sum payment that will also be taxed. So total Cobra cost will not really be 100% covered. And Cobra is not cheap. You can expect to pay at least double if not more than what you pay now for health insurance because you'll now be on the hook for the part of the premium SAP previously paid.
There's probably some other gotcha's I haven't even thought of yet.
Has anyone heard anything yet? I can't figure out if the offers have gone out in the U.S. and I just didn't get one or if they haven't gone out yet...
@8roh+1qXEON4j Nothing so far…
Getting down to the wire now. Can someone post the details of the offer if they get one in the US (weeks & age) so those that didn’t get are no longer waiting.
In 2019, the Decision Guide stated for age eligibility: “You will be age 59 or older by December 31, 2019.”
If the guidelines are the same, it would mean 62 by year end.
@8jmk+1qXEON4j I probably wasn’t too clear there :). I was trying to say that they could point to not getting enough VERP volunteers and then having to increase the total number of non-voluntary departures. Not neccessarily prople who declined VERP. I agree that RIF’ing someone who turned down VERP would nake for a strong lawsuit. I would definitely be looking at that if it happened to.
@8eop+1qXEON4j. I’d imagine, as well, that anyone turning down the VERP and then getting RIF’s a short time later could point to the VERP offer as an indication that they were targeted due to age. If there is anything SAP is scared to death of is legal action…. No one here seems to mention that…