I am hearing rumors from 2 sources within IBM of another "transition to retirement program" that may be coming in 3Q. Work week reduced to 3 days, salary reduced by one third, maximum time 15 months before having to retire, but no impact to health insurance and protected from RAs. Some of the more "legacy" organizations being pressured to reduce headcount further are looking at offering this. They want to gradually ease out some of the older workers who they still consider valuable but due to their contribution over the yeas have high salaries that are being challenged by corporate. The hope is that the transition will allow better skills transfer from those who choose the program to younger workers who will brought it (and much lower salaries, of course). Was wondering if anyone else has been hearing something similar.
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Before you accept TTR.. Make sure that you and your manager are in agreement to what is expected and document that conversation. 60% of 50 hrs per week is still 10 hr days.
Me too. Fed up
If there is a TTR program in 2019 I'm definitely taking it.
Is there going to be a "TTR" program in 2019?
Following is a message this morning posted on https://www.facebook.com/IBMwatching/
"Requesting that this message be posted anonymously on IBM pages/groups. I have been offered a Transition To Retirement program. I have the option to work 30 hours a week for up to 15 months. They tell me that I can keep the full employee medical plan and that I am guaranteed to not be RAed during this time. I am interested to hear if anyone has taken this program before. How did it work out? Where there any surprises or things I should be aware of? I am thinking seriously about doing this but want to know if there are any possible gotchas to consider."
The transition to retirement program is only offered to certain types of employees (i.e certain job roles). I'm a pretty high salaried person and always wished they'd give it to me, but I never get it. This approach makes far more sense since it's a more humane way to cut back the older workforce, something that IBM has been doing with a machete rather than an olive branch. TTR is the olive branch, and a sensible agreement between employee and employer and helps save the jobs of those who just aren't ready to leave yet, for whatever reason, and gets rid of people like me, who are quite ready and just slacking off a few days a week due to not having enough work to fill a five day week. So, hopefully, they are expanding it to everyone. It makes a lot of sense. Maybe someone in the company is actually starting to THINK.
They are offering transition to retirement this month, notices went out end of April and must decide by end of May and if they dont get enough there will be more RA's.. Probably better to stick it out as long as you can as you will get the ax sooner or later anyway.
First time seeing this, thanks for sharing.
Absolutely makes sense, yet, crazy times and nothing can surprise any more...