https://finance.yahoo.com/news/boeing-offer-voluntary-layoffs-employees-042449025.html
26 replies (most recent on top)
I am in a non union plant in Mesa Arizona. Can anyone tell me how I can get a vlo. Or if they are even offered at a non union plant. In 25 years this plant has kept me employed, gave me a xxx bypass, 6 stents and a hip replacement. I feel I should step a side at this point and retire.
If they lay me off I’m gonna bump a janitor.. they always need janitors... lol
Yes, wiped out .... as far as they are concerned. As in, one day, 1/2 a million $$, next day $300k or less... I'd call that wiped out, they certainly are calling it wiped out. They cannot afford to retire now like they thought they were going to.
When exactly, is that value going to return? If you're over 60 & were going to retire maybe in the next say 2-3 years, could you still just retire in the next 2-3 years with almost half your $$ gone? How long does it take to make all that back? Especially in todays massively volatile markets? If you lost say, $200k, you're actually about $400k in the hole.So....when are they gonna make that back, real soon?
The sad fact is, this is no different than exactly what happened back in 9/11.Different circumstances yes, same financial blow though. That will keep retirement age folks fro retiring, just like it did then.
“Wiped out their accounts” he says. For starters yes the market is down a ton, but not enough to “wipe out” someone’s account. And as far as losing money in this the only way you permanently lose money is by selling. You are losing value, not money, but value will return.
All the older employees I'm talking to simply cannot afford to take a VLO at this point, due to most of them losing so $$ in their VIPs over the last month or two.....several I've spoken to who were near retirement got wiped out, just like what happened back in 9/11 era.....heads up people: when sh– starts going south on Wall St., maybe move your $$ over to Stable Fund....otherwise you lose big chunks of it, literally overnight. So most employees I know who'd normally be ready to accept a VLO simply cannot now.Where does that leave us? Take a guess.....
Yep, it’s absolutely happening now & people getting PO’d about that fact getting angry about It isn’t going to change reality. I only had a couple of years in at that point & out the door I went. Does it make me happy to see this happening again? No. Do I feel safer than anyone below me in terms of seniority this time around? A big fat NO again. People that want to play generation warfare truly don’t get it. We all need a job or we wouldn’t be here discussing this. When this is all over (most likely years from now) & us “Boomers” as you like to say are long gone, younger generations will feel the same when this happens again. The world isn’t getting any better people, could be some day soon losing our job is the least of our worries.
Just sayin,in 2003 i had 15 years seniority and got a 60 day. Luckily they stopped laying off before I got my 14 day.
What people need to consider here is the airline industry as a whole is reckoning this is worse than 9/11.... think about what happened then.A whole bunch of us got laid off then, they went back 20 years or so in some departments.I personally have co-workers that went through it like myself & survived the cut.Most people though were laid off.Wasn't pretty then, isn't pretty now.
Announcement says VLOs offers for all 161,000 employees.....as far as PRODUCTION employees goes, it goes both by job codes & seniority.This has all been discussed here before, too many threads....
Basically, new hires in production jobs will get hit 1st as they work their way up the ladder.No one is safe, certainly not "mr. 10 yr whatever/whoever" .... And don't get me started about bumping, this has been exhausted on this forum too. Union this, union that blah blah blah.... machinists with more seniority will bump those with less, in YES, job codes they've never held before.Anyone who calls BS on this simply hasn't been through the layoff process before.New hires period will be laid off, going back several years at least.
30 years....Ima get back in and make some $$ on the stocks....Then walk away....
Nothing personal, but Boeing doesn't care what you, or I think.....just sayin'.
It's nothing personal to them either, just business.We're all cold hard numbers....if they don't get the #s they need with the VLO, they will start at the bottom & work their way up.At that point, it's simply a matter of how far back do they go? What someone considers they've paid their dues, or they've worked hard....means NOTHING to Boeing.None, zero, zip, nada.The numbers are all that count to them.
We've all covered this before here, ad infinitum. Layoffs are coming, after VLOs get exhausted.They start at new hires & work their way back.Hate me for telling the truth, whatever. New hires will be losing their jobs.
@hka I agree it’s going to be a little bit of a ride I think but I put my time in for sure. I know I deserve to stay.
@wuu >>> Whoo Hoo ten years!! Oh yeah, you're safe!! ;-)
Voluntary first Volun Told next.
I won’t take it, I got ten years in and won’t get laid off. Plus I don’t work on the 737 so I am golden. Might even buy a new truck with these deals going on
@isg You really shouldn't base your judgements off of assumptions. It is quite foolish.
15 Years!
15 Years!
Involuntary layoffs next.When they announce it for the whole 160,000 workforce.... doesn't look good.And all the millennials crowing the Boomers will finally be gone, when only half or less of the old-timers take it, they start at the bottom & work their way up.My best guess is they go back at least 10 years, but what do I know....
Involuntary layoffs next.When they announce it for the whole 160,000 workforce.... doesn't look good.And all the millennials crowing the Boomers will finally be gone, when only half or less of the old-timers take it, they start at the bottom & work their way up.My best guess is they go back at least 10 years, but what do I know....
the VOL is NOT the same as a golden handshake.
VLO or involuntary layoff the payout is same per contract. Only difference is with VLO you can elect layoff and then move ahead of someone with less seniority and get layoff. In other words involuntary layoff starts at bottom of seniority list, voluntary layoff starts at top of seniority list.
Well there goes my whole crew. Guess they got what they wanted. Good ole Golden handshake. No worries I won’t forget what these old timers fought for. When we are approached with next contract we need to stand up and make sure we only accept what is good. No takeaways!
We should heed advice from Monkeys & Clowns who re-post a Thread for
Attention
The Look at Me generation still expecting their participation trophy.
Run along back to Fortnite, Miscreants.
Totally agree, those who can financially afford to take the offer would be well advised to do so. Those who do not take it risk involuntary layoff with no payout. It is like playing Russian roulette with your financial future. It is not worth the risk.