Has anyone who applied to participate in the voluntary program been notified of acceptance yet? I know everyone will notified by November 30 but wondering if anyone knows yet.
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No one I know that applied for the voluntary package has heard anything yet. The document says by Nov 30.
Many people are taking it - it is a fact. But it makes sense. Roughly 1200 persons retire every year, so one would expect about the same number in 2021. It is logical that most of them will take the 4 months extra pay and leave now. Besides, some people that were to retire in 4Q 2020 (on their own) had delayed because they expected a package. So I would not be surprised if around 1000 take the voluntary package.
The package is what it is. The days of great packages are over...last time a great one was offered, many more than they expected took it and they lost a lot of talent. I have been told by many managers that will never happen again. This package is what they're offering, period. If people were planning/wanting to retire soon anyway, then it makes sense to take the package. More incentive would have been nice, but I don't believe they HAD to give anything. With carry over vacation and 2021 vacation, some could be getting 6 months of pay when they leave.
Package is generous given the business environment. The involuntary group is paying the real price unfortunately.
Its the same answer every time, no one who wasn't planning to go soon anyway will take it. Its a disappointing incentive to anyone who has already been waiting for a package to be announced. I know of several, one of whom got PIPed, p-ss-d off and left right away and is now having last laugh at meager package anyway.
@smm+17U2BaDf, OP here...I know a few who are taking it.
Don’t expect many to take the voluntary package, which was a PR stunt. The real cuts will be involuntary.