Two of my buddies already had filed retirement paperwork. One for October and one for November. They were retiring to get their lump sum before the rate adjustments. Both were let go today. Maybe Ford thought they would change their mind about retiring?
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anyone knows the total numbers for today?
Retirement is whatever you have earned as of today. There is no bumping time to get to 30. For me the pension is not that much less, but the SS supplemental is reduced. Lump sum takes a big hit though and that was what I was planning to take, I have to reevaluate now but I don't trust Ford not to mess with pensions in the future. I also hear they may take away the health care reimbursement money for retirees.
How is retirement / pension handled with severance for those eligible to retire soon?
To this person: [I just got let go from Purchasing. Had my papers in two months ago for Nov 30, and I'm 55 days away from 30 years. Not well done Ford.] OMG. I feel for you, FORD has alot of people with your proximity with their 30 year date. That is harsh. I'm standing here with you feeling the pain. This is rough.
Sounds like Ford did not learn anything from SDR and the age discrimination lawsuit that resulted. I smell another class action lawsuit.
That bites @geo, not a good look for Ford
ITO
What is TSP?
I just got let go from Purchasing. Had my papers in two months ago for Nov 30, and I'm 55 days away from 30 years. Not well done Ford.
One TSP one PD
Where did they work? Asking for a friend who's getting close to retirement
6 months healthcare with severance package.
Yes great financially for them. Emotionally not so much. One went from true blue I’m going to buy a retirement Mustang to, anti-blue never going to have another Ford with the flip of a switch. Emotionally a kick in the shorts
But with no health care coverage if they accept the severance, correct?
So, the pending retirees… it is a win-win. They get the 9 months severance and the boss gets to claim it as a headcount reduction.
that is actually great for them...now they get a 9 month severance and get to retire!!!!!!
So does this mean the next round of cuts has started?