3 people in my department are taking the early retirement package. They will leave in February 2020. The retirement age was lowered to 50 for this round of offers. It use to be 55. It may start looking like a ghost town around here next year.
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You still enjoying that retirement package in this coronavirus economy?
I was WFR'd on November 1st and because I worked one day in FY20, I was automatically granted early retirement and the WFR erased. 52 y/o with 19 years service. I'll get 9 months pay + 26k lump sum minus the severance I've already received. Thanks for the money...now where is my gold plastic retiree badge???
The chance to take Early Enhanced Retirement is over. You had to have 20 years of service and at least be 50 years old. The terms were quite generous and everyone that elected to choose EER was accepted. There are lots of small R&D companies and jobs in Boise, ID. And if you're an engineer Micron is very interested in you. They love HP employees!
"HP pay rates average higher than other companies in the Boise area"
But, they aren't though....
I know a good 20 on my floor who are taking it. Time to leave. Boise is shutting down soon.
"If you are still at HP after all this it is because you are afraid of change and have no desired skills"
Disagree. HP pay rates average higher than other companies in the Boise area in particular, so why not ride it out to the end while planning your next career phase? Fear and skills have nothing to do with that reasoning.
50 years old?? That's age discrimination!! (LOL)
Which office are you in?
What are the details of the package offered? Is it a good deal?
If you are still at HP after all this it is because you are afraid of change and have no desired skills, so that is your downfall. The economy is fine and unemployment at an all-time low... a monkey can get a job in this economy.
The requirement is 20 years of service and 50 years old by Oct 31st.
Are they requiring the 15 years of service minimum? Normal offer is 55 + 15. They've lowered the age to 50 a couple of times over the years.
Smart to take the pkg if you are in a position to do so. Layoffs typically follow the early retirement offer and that will be painful especially for workers over 40. This is no economy to gamble with. Get out before they push you out in the midst of a recession.