Seems those that have been approved for the VERP have already gone into shutdown mode. Those remaining are not happy and are not even trying to keep up the work levels they were at before. The backlogs are already becoming a problem. Can only see things getting much worse when the Rif's come
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To those still working hard because of their work ethic, pride and integrity, the firm sincerely thanks you and you will be receiving shortly a certificate acknowledging how wonderful and great you truly are. No, the firm isn’t reconsidering keeping you but we hope you’ll frame & hang your certificate proudly in your home as a sweet memory of the contribution you made. Also, we’ll be proudly displaying your names and the names of your colleagues next to the names of the other past employees who made the firm great on an engraved plaque to be displayed at the entrance of the corporate headquarters. And we do encourage you to continue to work hard, transfer your knowledge and do break your arm patting yourself on the back. Oh and we forgot, you hard workers will be rewarded with stock options, only reserved for friends of the big guy, so that you’ll be assured a happy and secured place in your unemployed future.
I elected to not elect the VERP for personal reasons. Had I had another opportunity close to being closed, I would have.
A number of my colleagues have elected the VERP. They are diligently working to turn over as much as they can to their function recipients. None of the colleagues I know who have elected the VERP are in 'garden leave' work mode. They are working.
Perhaps it depends on the organization you were in...
I am VERPing and will work as I always have until my last day. It is a matter of pride and work ethic, things you either have or do mot. I am also trying to pass on as much as I can to the people staying as I can, another matter of pride. I was caught unaware but am at the point it was near enough my time to be a no brainer. For most of the whiners here I suspect that after a brief period of transition the company will be better off once you are gone and so will the workforce.
I don’t blame them. I applied for the verp and was denied. Granted I didn’t meet the age requirement by the deadline. I wish I could get away from this god awful company. Very is the best thing offered to employees in decades. There is limited growth for older workers and there is zero development or mentoring going on in this organization. Unless you’re from another country AIG doesn’t care about you in the US.
On May 28th those who applied for verp were notified if they got accepted and most of the accepted, the last day is June 30th. And you expected them to keep working? For whom? For what?
The pre-VERP vacation is well underway here in Boston. Those who have VERP approval are doing absolutely nothing. The remaining staff is in full panic mode. More than half of the non-VERP folks are actively looking for new jobs due the concerns over the upcoming increase in claim case loads.
I started seeing those that are verped are checked out. My colleagues are not doing anything and everyone is taking a vacation.