I just wonder how many people are laid off here just before the retirement?
I personally know a few people who have had this happen to them. I don't have much time left until retirement, and that's what I'm most afraid of. I hope to be able to retire, but I wouldn't be surprised to become one of many who didn't.
8 replies (most recent on top)
I was laid off at age 60, three years after I was rewarded with a PIP after what I thought was 25 good years’ worth of reviews. Since I couldn’t find employment, I qualified for a large (about 90%) federal subsidy for marketplace (Obamacare) health insurance.
In UOP a lot of people were riffed just before retirement.
In EU offices, some were paid 4 or 5 years salary as severance while they had only 2 years to go before legal retirement age.
- e. honeywell rather pays people double to do nothing then once to keep them productive. Id--ts!
If you are under the old pension plan the key numbers are 60-points and 80-point pension plan calculations. Note the health care insurance portion of the pension plan provided until you reached Medicare was discontinued from Allied/Honeywell pensions years ago, under the lie and cost cutting efforts that Obamacare would take care of all your healthcare needs. Your points are determined by adding your age and years of service (I.e. 51-years old with 20 years of service equals 71-points) It appears to me they target older workers to reduce pension cost based on age and years of service.
To the person who posted this. We know that the Pension was frozen on 12-31-15. This income will still help during retirement if you have it. I don't know your age, but if you get laid off at age 53, Honeywell will Bridge Service you for two years until you reach age 55. This way you can get a lot more on your Monthly payout if you are on the old plan. However, you have to go get the Bridge. It's not automatic. It is in the Honeywell Policy.
To @1ots: so sad they did that too you. And putting on PIP too guess they have meet a quota unreal. Few of us left hoping make it 5 to 6 years but is scary not sure if going happen so sad. Good look on retirment
To @1maf: That’s EXACTLY what happened to me, 30 good/great annual reviews, and then suddenly bashed out of left field and threatened with a PIP! Luckily, I was able to retire at the time. But no severance package since I technically left on my own.
At UOP there has been quit a few let go right before retirement or left early on thier own do to getting cr-p reviews even though they didn't deserve it. So I say age and alot years in they not likimg anymore guess since good pay guess is high so push them out so don't have to have high pays. Just sad how we are treated but let's send out email on all the networks. Talking about being not political.
I laid myself off at age 62 and called it a retirement. I worked as a contractor for several years after that. I couldn't preserve my sanity and self respect by staying a minute longer. They made the last five years there really miserable, the fu----s.