Yes the emails really went out today. No the money is not as much as it has been for past buyouts. Stop griping and stop expecting to be paid out for voluntary retirement under a policy that determines payout for severance. Just because they were similar in the past doesn't mean they still are. SAS owes nothing extra to people who have been here for decades.
80 replies (most recent on top)
"What are the pockets of revenue growth at SAS for 2024?"
This information should be in SAS Institute's Annual Report for 2024.
But apparently it has not been published yet.
The Annual Report for 2023 was available by early March.
Or neither.
"planning for revenues to be down this year"
What are the pockets of revenue growth at SAS for 2024 vs 2023?
Yes, this VRBP is quite different from the previous ones: shorter timeframe, smaller payout, in Spring not Fall, and simultaneous with layoffs.
The Spring timing and simultaneous layoffs suggest that SAS is either planning a near-term sale/IPO, or planning for revenues to be down this year — or both.
“Those taking the buyout have to accept by April 14 and their last day of work is April 30. ”
Wow, the time frame is getting shorter and shorter. In 2018 the email came out in late summer/early fall and the las day was Dec 31. In 2021 the email was August 15 and last Day was Oct 31.
Those taking the buyout have to accept by April 14 and their last day of work is April 30. Some may choose to have an earlier last day if they take their remaining vacation days.
“For those that choose to accept this VRBP…When do you have to make the final decision?”
For reference, in 2021 we had one month from the email date to decide.
Paint huffers rejoice!
“ For those that choose to accept this VRBP what is your last day at SAS? Is it April 30?
When do you have to make the final decision?”
Yes please, share the details so I can remain hopeful they’ll drop the age requirement a few years for next “cohort”!!
For those that choose to accept this VRBP what is your last day at SAS? Is it April 30?
When do you have to make the final decision?
"You know which departments are safe."
JMP and the Art Department are safe. Those who disagree need to provide illumination concerning how many have been laid off in said departments. Expecting crickets
Targeting an underperforming department would be a shrewd move for most companies. But not this one -- they target people instead.
You know which departments are safe.
Congratulations to the CFO on his retirement!
I'd love to know how many secret love children he moved money for. They are probably all grown up now. Time to move to GAAP standards with transparent books in time for an IPO.
Maybe he can write a book about being a billionaire's money person?
If you choose to retire, don't always expect SS to be sent on time going forward or that SS will continue to exist in the future. Invest well so you're not dependent on SS even though you paid into it.
https://www.msn.com/en-us/money/news/trump-s-commerce-secretary-don-t-complain-if-we-don-t-send-your-social-security-check/ar-AA1BpCfw?ocid=winp2fptaskbar&cvid=27eae629c2f045f8d88071751ff33c8a&ei=22
The retiring SAS CFO is already wealthy by most people’s standards. He started out frugally, possesses tremendous insight into financial markets, has long bern well paid and has no doubt capitalized on 40-years of the greatest overall economic run up in world history.
40 years…
The SAS CFO knows the financials better than all except maybe Big Jim.
That knowledge may or may not be related to his retirement. It could be as simple as him wanting to do something else. After all, there is much more to life than a job at SAS - or anywhere else for that matter.
“Sounds like you should consider moving on, though”
Nah, want to keep drawing that fat paycheck! /s
“Wait, he waited 40 years and just as the company was about to IPO he leaves? Perhaps he knows something we don’t know? Or, rather, something that is extremely obvious. No IPO.”
Not an IPO, we’re being bought by MS, remember? LOL.
@s1+1jpkrn6kw
Oh please. We all know SAS can't be saved. It's too late for that. Might as well ride it out.
Sounds like you should consider moving on, though. Your skills are in such high demand you should take them with you when you leave. We both know they won't be missed! Don't worry about the impact on anyone else's productivity. We both know there won't be any!
“Or, rather, something that is extremely obvious. No IPO.”
Agree, this pretty much confirms.
“Hanging on to their jobs to keep piling up those fat paychecks”
Fat paychecks? lol.
Or someone is not sharing the gold at the end of the rainbow with the others...be it IPO or private sale?
“The CFO had been at SAS 40 years…. Why would anyone be surprised that he retired?”
Wait, he waited 40 years and just as the company was about to IPO he leaves? Perhaps he knows something we don’t know? Or, rather, something that is extremely obvious. No IPO.
@sc+1jpkrn6kw The CFO had been at SAS 40 years…. Why would anyone be surprised that he retired?
What to make of the fact that the CFO is retiring? IPO not happening anytime soon?
“ If you ever cared about SAS at all, realize that so many of you hanging on with arthritic fingers are destroying it with every year you remain retired in place.”
Such a horrible generalization.
There are old employees who su-k at what they do. There are old employees who are average at what they do. There are old employees who are excellent at what they do.
Exact same goes for young employees. I’ve seen brilliant ones and I’ve seen terrible ones. And a bunch in the middle.
I’ll pit my arthritic fingers and brain against 90% of the youngsters at SAS and come out ahead every time. Same with the oldsters.
Now some anonymous shrink tell me I clearly have Dunning-Kruger effect going on…
I agree, sorry if the truth hurts.
As far as I know the buyout offer went to all employees age 60 or over who have at least 10 years of service. I don't know that many people since I have only ever been a remote employee here so IDK if there were any teams not included.
Did JMP get the offer?
Was the offer sent to all?
If not, which departments are safe?
"The expense of employing so many people who have been here for decades is crushing this company."
Let's make the above a more accurate statement. The expense of employing so many people working on stuff that has proven to be unwanted by customers is crushing this company.
Viya is the biggest example.
Those senators are doing what boomer SAS employees have done to SAS. Oh the irony.
Hanging on to their jobs to keep piling up those fat paychecks while stifling innovation and preventing anyone with new ideas from breaking their stranglehold on the company. That's why it's in trouble, why we're all in trouble now. The expense of employing so many people who have been here for decades is crushing this company.
if you got a retirement offer please Take it and go. We get that you were so proud to work for this company and all that stuff. The company you knew is gone. It's been gone for a LONG time. You will end up being involuntarily let go with a deal that isn't any better if you refuse to take the buyout.
If you ever cared about SAS at all, realize that so many of you hanging on with arthritic fingers are destroying it with every year you remain retired in place.
@ng+1jpkrn6kw
yeah, they did vote for him every 6 years, but it's unbelievable they voted for a 95 year-old Senator again in 1998 for another 6-year term until 2004 but he died in 2003 before finishing his 8th term! But then again it's SC and they loved him!!!
The voters chose every 6 years to give him the opportunity to continue.
Yes. And the transition-to-retirement assistance is much appreciated.
The youngest of the baby boomers is 61 in 2025 (baby boomer generation 1946-1964).
Very soon SAS will have no baby boomers left in the workforce.
I wish the 70-something and 80-something members of Congress would retire instead of holding on to power until death is almost at the door. Let the younger generations lead, please. Retire and enjoy what's left of life.
Strom Thurmond born December 5, 1902 and in office until January 3, 2003, died in June 26, 2003 (aged 100) after being in the Senate for 47 years as a Senator from South Carolina. Strom Thurmond left the Senate chamber on his own terms, just two weeks shy of his 100th birthday. What a record but kind of sad in a way, working until 100.
"You also get that $500 a month healthcare subsidy from SAS until 65"
Or $18k, whichever is larger. So the way I read it you basically get three years of that subsidy, regardless of age.
From what I heard, in 2018 only 300 out of 600 eligible employees took the VRBP.
In 2021 only 300 also took VRBP out of 600. I knew someone who did not want to take the VRBP in 2021 but was told to take it then or else get the layoff asap so the person had to take it then with no choice. Another person I knew did not want to take the VRBP in 2021 but was not forced to take it then, but later was laid off in 2023.
If you're 64 or 65, good idea to take it if you're ready.
If you're 63, you can take it or leave it.
If you're 60-61-62, maybe hold on a bit longer if you're still not ready financially.
By the time you're 60, hopefully you already have your mortgage paid off, your cars paid off, and have no consumer debts. If you still have these burdens then keep on trucking a few more years. Good luck to all, whatever you decide!
"A layoff gives me twice the payoff."
SAS will very likely change the layoff severance in 2025 and shorten it to just 6 months to be in step with the VRBP.
@ms+1jpkrn6kw
That was the case with the first VRBP as well. They didn't get as many responders as they wanted, for various reasons. How many of those later regretted their decision I don't know, but I don't think the response to the second VRBP was much better, probably for many of the reasons cited here. But either was probably a godsend to anyone who was already planning to retire in the next months or so.