Nearing retirement age. Is severance paid if one voluntarily retires in NAM region? What is more beneficial?
5 replies (most recent on top)
Hold off especially if layoffs will occur in November.
Wait them out like I did. I saw the writing on the wall three years ago when my manager basically told me in no way shape or form would I be getting a promotion under her. If I said I did this project she would say well you should be doing more than this to get a promotion, etc. etc. I ended up telling her I’m not falling for the carrot and the stick and feel free to lay me off . fast forward to January of this year I was laid off after being here over 30 years. I waited it out until they threw me out I was never leaving on my own. Do not leave on your own accord. You will lose severance annd unemployment I am also too young to retire to get Medicare and Social Security, but I’ve saved enough money that I will live off that. when I got laid off I told her what did you think I was gonna be upset I already told you three years ago. I wanted you to lay me off. Thank you and it’s been nice working with you. The call didn’t go as she expected as I was not upset at all I knew it was coming. Had a big smile on my face and just asked about my severance. I’m sure she wanted me to feel bad, but I didn’t. Save as much money as you can as young as you can. Good luck to everybody.
My advice is to wait. Let them pay you a severance plus your 60 day WARN period. Take your money and run!
My plan too if I am so fortunate to be selected to take a role outside the organization.
As far as I have heard, Citi is not offering voluntary anything.
Many years ago, one of my friends was layed off from Citi. They got a severance package. After their time was up they filed for unemployment. Once their unemployment ran out, they put in their notice to retire so that they could get their pension.