Early Retirement

Supposedly they're about to start offering early retirement packages at JBI. Any details on how they do this? How long for severance? Can you turn it down with no repercussions? Benefits? On the Credo survey our management ranked terribly for trust, around 40%. We have fifty plus managers selling their 50 plus employees down the river. Then we have fortyish women sleeping not only with their managers but high ranking town officials. Shameful. If weak packages are offered or older reps are set up and screwed prepare to read same embarrassing and provable stuff here.

 

There will be no early retirement.

 

No early retirement per se, but older employees more scrutinized, put on pips, expense audits.

 

One year salary and bennies minimum. I'm tied in at high levels.

 

You are F.O.S.

 

Re: Early Retirement - option consider & discarded

IF a package were to be offered, it would most likely look like:
--- 2 weeks severance/year up to 52 weeks + 60 days notice
--- You sign away your rights to sue JNJ
--- Possible 3 years bridging to 55 for people with more than 10+ years tenure OR
the package is only available to those with age + service = 80 or 90 years.

BUT... word is that Gorsky considered it and it is NOT happening

BUt word is that LAYOFFS will be announced next week starting in the consumer sector

 

Agree - won't happen. Severance package is all that will be offered. Won't even make the stock price go up. Time to cash in the options.

 

Big merger going on in MD&D with Ethicon Inc, EES, and Gynecare. Straight severance is all that is being offered. People age 53 with 29 years of service are not being bridged to 55.

 

People are just being fired in consumer. Severance pay but no bridging. If you are just short of 55 it's too bad. People also being told they wont get a bonus. That really stinks!

Doesn't seem to be any rhyme or reason to the firings either. Certainly not performance related.

 

Stop with the early retirement chatter. It will not happen. There is a concerted effort now where folks are being phased out. I know of 3 people with 20+ years right now who have recently had their positions eliminated. All between 45 and 53, none are being 'bridged'. They're being given hope that there are job opportunities within the organizationfor them, and they are interviewing, but it's all a sham. They are out. Now, extrapolate that over 10s of thousands of employees, multiple OpCos, budget cuts, and obamacare, with a likelihood that Obama is going to be re-elected, and there is a paring of jobs. Slow and sure. You're not even going to know its happening until it happens to you. All of you that are waiting for the golden ticket? Spend your time looking making sure your résumé is up to date, network outside JNJ, and be ready, because it's coming.

 

Fortunately here at the cream of the crop crown jewel, JBI (the home of Remicade, that helps so many of you keep your jobs) that is not true. We carry the company which is why they are willing to pay us 150 thousand dollar base pays while so many of us have side jobs renovating houses, as landlords, running our spouse's practices and businesses, selling real estate, construction businesses and shopping. Oh how I love the shopping! Like our management tells us, I don't care what you do or how many hours a week you work or don't work, just make sure you keep those Reamicade vials coming in. Oh, I can't tell you how many physician holiday parties my manager and I have expensed as "company meetings," or how many gift certificates I've tacked on to dinners. But we bring in the numbers, and thats part of the Credo. So there!

 

Let's plan to meet at the unemployment office in December....we can have coffee, and tell funny stories...
Seems like you have a head start!
Remicade (I assume Reamacade was a typo,..but it did make me chuckle)?
Tick Tock Tick Tock

 

http://online.wsj.com/article/SB10000872396390444620104578012281306687070.html

With a 2.3% tax on gross sales of medical devices due to Obamacare, we shouldn't be surprised by cuts in budgets and layoffs.

 

Have a few less "Team Building" meetingsin useless venues, couple less lobby and cubicle renovations (just musical chairs anyway), drop the high paid "inspirational speakers",..ease up on the "Extra Compensation" for the geniuses that "lead" us, and get some REAL research done (there are tax credits for that).

I think the industry (or at least the non-moving parts of it) does JUST FINE, despite the crocodile tears...!!!!
Plenty of cash always available for penalties.
Hmmmmmmmmmmmm......

 

She's right. Remicade is keeping a lot of people employed right now.

 

Get used to it. It happens every year.

 

"I know it's early,...but you are Refired" !!

 

Severance has always been paid up to a max of 2 years.

 

"Always" ????
Not at all....that depends on your personal relationship and history with your (HA !!) "Leader", and what is discussed with the geniuses in HR.
Basically they'll do what they are told to do within the specific budget etc. for the firing programs, or whatever they wish to call it at that moment.
It is NOT general a policy as such.
Some cases yes, some cases definitely not......

 

Cute.
Yes, it's usually fairly early in the day.
"Sign here"....