I'd take a buyout in a heartbeat if they offered it to my department. I'm wondering if expressing interest early helps your chances. Does anyone have direct experience with volunteering to be included in the reductions?
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@op your best bet is to find another job elsewhere and put in a 2 week notice vs saying you want to be VSP.
@19n another clueless chubak shill. All you people think about is how to cut costs more and more for short term gains, while completely ignoring the big picture and long term gains. I'm assuming you also think outsourcing 80% of home office to india is a good idea. It blows my mind how the people who do the actual work around are constantly demonized by the higher ups and ELT who literally do nothing productive, ever! 80% of the GPs could quit tomorrow and the company wouldn't miss a beat. If 20% of the OPS or Service division walked out the door tomorrow, the entire home office collapses. You're probably just another one of penny's circus clowns who thinks they are entitled to a large paycheck and everyone else below should be sh1t on 24/7.
@19j we survived because we had a ton of cash we were sitting on and nobody took bonuses which people like you probably assume you deserve every year. In retrospect, it’s impressive we’ve survived with people like you working here that long.
@19f Yes, we should totally start running the company like a 1980s wall street bank! Dummy...This company didnt become successful by following every dirty corporate trick in the book. There was a reason we survived the 2008 crash while others needed a bail out or went under completely. It was because we DIDN'T follow the latest wall street trends. EDJ will no longer exist by 2030 at the rate we are going. It will be in name only and merged with some other cut throat bank.
@af kind of like any company…corporate America generally involuntarily reduces 6-10% each year. So if we have ~8500 HO associates, I’d expect a minimum of 400 people “fired”. So yeah, 5-10 in one spot, 25-30 in another. You have all been living in the clouds. Time to come down to reality. Or go somewhere else, more LP and opportunity for those of us actually working and not fear mongering and whining.
A particular web page was updated last Thursday to answer the question around VSPs and ISPs this year…. no VSPs anticipated but there will be ISPs this year. Just search VSP and you should find it, it’s a FAQs web page.
I would not be surprised if they offered a broad VSP, outside of just leaders, that they might get the numbers they want.
Severance pay is usually better in early rounds of layoffs. They probably wont want to spend $ when they can push people out for free.
I think VSP was a one time thing and even some of the ISP's they did where people still had 3 months to find something else. Now that the mask has totally dropped, the will start using more brutal (traditional?) layoff approach. It wont a large swoop either like last time because the PR was a mess. It will be 20 people here, 15 there, another 25 here a month or so later. It will be immediate layoffs too and done as quietly as possible. We will be gaslit once again by ELT and told that it was "only a couple people replaced by AI". But when the year ends we will have several hundred more layoffs and 3x the amount offshoring to india.
The VSPs previously were only offered to leadership roles regardless of age/tenure and those who met the rule of 70; Have your age + tenure >= 70. I believe there's a stipulation that you also must be 50 years old or above, I can't remember.
Assuming those two things are true you for you, I still would not assume you can express early interest. VSP was supposed to be "role agnostic" and any future separations may be ISP only and may not be so broad. As well, for ISPs direct leaders below the top layers were not aware of who was on the list (or not supposed to be) and I believe they were just as aware about VSP as you were. I would also be wary of expressing interest to leave internally as it may serve only to hurt your relationships, chances at promotions/raises, or make a termination without severance more likely.
Sorry to say I think the real answer is you just have to wait and see. As someone who's already been through all of this involuntarily, and as I saw what was happening became increasingly disinterested in staying, there's a wave of emotions and regret that follow even if you thought you wanted to go.