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View Full Version : "The company is closing in 18 months"



SarasotaRepub
09-22-2010, 07:52 AM
I find this one sort of pathetic... (http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=389x9179197)




SoCalDem http://www.democraticunderground.com/discuss/images/donor.gif (1000+ posts) Wed Sep-22-10 07:06 AM
Original message "The company is closing in 18 months"http://www.democraticunderground.com/discuss/images/transparent.gif


This is what my 55 yr old friend was told last week. The company is sending his division to "Asia".

He experienced his very first panic attack shortly after the news-bomb was dropped.

He has been at this job for 18 years, and his wife does not work outside the home..(she may have to...soon)

For people who stay until "the end" , there will be a send-off bonus, but no real details as of yet. There is no company pension.

He was worried sick, until his friend told him to stop worrying about something he had no control over, and there were no other jobs to run to anyway, so he's resigned himself to the fact that in less than 2 years, he will be starting over at 57 yrs of age.

They are saving every penny they can, and getting dental work done, but other than that, they just hope that when the axe falls, the economy will be in better shape.

At first they thought that if they could sell their house, they might be able to buy a cheaper one (it's just the two of them now), but after expenses related to selling and the shitty market, they decided to just stay put, and perhaps rent a room out if it came to that.



So lets see, this guy has 18 months---a year and a half---to line up something else and he's going to pieces??? JHC, talk about pathetic. I don't know about anyone here but I'd hardly hit the panic button with this kind of warning.

And of course, since this is DU, who knows if this story is even true.

:rolleyes:

Sonnabend
09-22-2010, 08:29 AM
He can thank his hero for this.

Too expensive to do business in the US and now they are moving overseas to save money..and employ people. He could always (and I notice he didnt mention this) ask if he could relocate with the company.

18 years is a long time, and unless he is a drone they can do without, they'd think about keeping him...if he has the wit and brains to explore the option.

I would.


There is no company pension

He has no super, and no 401K, and no savings and he has been there EIGHTEEN YEARS? He didnt think to make these arrangements himself?? I call BS here.

Gingersnap
09-22-2010, 10:00 AM
This would be troubling to most people but most people never get 18 months of lead time. Like SR, I wouldn't be panicking just yet. You can pay down a lot of debt in that time, go back to school at night, explore some self-employment options, etc.

It would be kind of strange if the guy didn't have at least some type of craptastic 401(k). I think you automatically get enrolled in something even if you work at McDonald's nowadays.

ralph wiggum
09-22-2010, 10:07 AM
Some interesting responses:


ejpoeta (1000+ posts) Wed Sep-22-10 07:42 AM
Response to Original message
6. he should consider himself lucky that he got that much notice.
this gives him time to tighten up finances and put his resume out there. he's got a good head start. it sucks, but it's better than finding out your job is gone in two weeks. I find it interesting there is a bonus for those sticking it out til the end. wonder how much that would be. is it worth not having a job? screw that. at least start looking. if you are still there at the end then get the bonus. if you find something else, go. thank god for a good head start.

my husband was working temp to hire for a couple of years at a place in buffalo. he found out they were laying people off eight months beforehand and was able to get another job without the gap. so even though being able to stay somewhere until retirement is the best scenario giving everyone the heads up so they can start looking elsewhere is at least something.


TBF (1000+ posts) Wed Sep-22-10 09:27 AM
Response to Reply #6
20. It is truly pathetic that someone is considered "lucky"
when they get notice of their job ending. Is this what we have come to? Why are we not fighting back?

:rolleyes:

CueSi
09-22-2010, 01:37 PM
This would be troubling to most people but most people never get 18 months of lead time. Like SR, I wouldn't be panicking just yet. You can pay down a lot of debt in that time, go back to school at night, explore some self-employment options, etc.

It would be kind of strange if the guy didn't have at least some type of craptastic 401(k). I think you automatically get enrolled in something even if you work at McDonald's nowadays.

Godiva enrolls you in one and you're fully vested after 3 years. :p

~QC

Gingersnap
09-22-2010, 01:44 PM
Godiva enrolls you in one and you're fully vested after 3 years. :p

~QC

Once again, porn is at the forefront of employee rights. :p