Severance

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anonymous

Guest
Is it true the severance package has changed? 1 week for every year vs 3 weeks?
 

WTF! I guess the three week “enhanced” severance package was so temporary to accommodate the mass exodus of cluster 1 mgt. Who gives a flip about those of us still here.
 
Everybody in Global Pfizer has same severance policy as of Jan 1st change to 1wk per year plus 90 days signoff clause.

IM fell under previous 3wks per year plus 90 days with 60 day Warren period which had existed for 20yrs.
New CEO, new changes, new benefits, new severence now. Is what it is.
As in the fine print under the policy "co reserves right to change or alter anytime......"

If you are staying for a severence, not worth it so if not happy go ahead and leave now. BMS is hiring.
 
Look at history last 20yrs
Layoffs every 2 yrs
Pre laoff , DM rep evaluations
Outside consultants analysis involved
HQ mgt say no downsizing, looking for product or co or license deal.....
Future is great
Stay focus this year is vital
Bang layoffs announced.
,
Same pattern every 2 yrs
 
anonymous said:
Look at history last 20yrs
Layoffs every 2 yrs
Pre laoff , DM rep evaluations
Outside consultants analysis involved
HQ mgt say no downsizing, looking for product or co or license deal.....
Future is great
Stay focus this year is vital
Bang layoffs announced.
,
Same pattern every 2 yrs
Click to expand...
Wash, rinse repeat
 
I’m not saying it’s great -cause it ain’t, But a 10 year employee, would likely get a 60 day warn plus 3 months plus 10 weeks, so more like 8 months total- should have got pfired in 2019, it would have been about 12 months last year.
 
I was seperated last year at the age of 57. Best thing to ever happen to me. I was ready to go , tired of what the field had become. I actually called my area director asking to be chosen and save someone who really still needed the job. Apparently it worked since what was mostly my territory was left open and I was displaced. I had 33 years at that point and ended up getting the Warn period and then 2 years of severance. I am shocked that it went down to 1 week per year. I know 3 weeks per year was excessive but why not down to 2? I would be kicking myself now had I not made that call asking to be let go. I guess it’s possible they just wanted to get rid of me which is fine by me as well. I wish everyone well. It’s amazing how quickly the stress goes away!
 
How so ? It came with three years of health care, way above what others have received. I think what we had previously with 3 weeks per year was excellent. Not so great anymore.
 
anonymous said:
I was seperated last year at the age of 57. Best thing to ever happen to me. I was ready to go , tired of what the field had become. I actually called my area director asking to be chosen and save someone who really still needed the job. Apparently it worked since what was mostly my territory was left open and I was displaced. I had 33 years at that point and ended up getting the Warn period and then 2 years of severance. I am shocked that it went down to 1 week per year. I know 3 weeks per year was excessive but why not down to 2? I would be kicking myself now had I not made that call asking to be let go. I guess it’s possible they just wanted to get rid of me which is fine by me as well. I wish everyone well. It’s amazing how quickly the stress goes away!
Click to expand...

I was let go as well, but due to health reasons. I had planned to retire soon anyway, but the enhanced severance was a very welcome “going away present”. And with my health issues, the health care coverage really helps, as it will bridge the gap until I’m covered by Medicare. The company was extremely fair, and while my manager and I where not always on the same page the last few years, this person supported me and genuinely took an interest in my physical, mental, and financial health. Along with some great advice (and support) from a person in the office of the ombudsman (a GREAT resource!), I was able to navigate a lot of challenges that my disability and my accelerated retirement presented.

I have certainly done my share of complaining over the course of my career (especially post-2000), but I was treated with nothing but dignity and respect over the past year, reminding me of the great company I came to work for all those years ago under the guidance of Ed Pratt and later Bill Steere. To those of you still there, best wishes for future success. For those departing, keep your chin up, you’ll do just fine, particularly in this economy.

And to everyone, don’t ever take your health for granted. I exercised, kept my weight under control, and saw my doctor regularly. But something out of left field, perhaps a nagging issue you’ve “just lived with”, can easily lay you low. I’m alive, and every day is a blessing, but money can’t buy your health. If it could, I wouldn’t be in the position I’m in now. Take care of yourself, get things checked out early, and enjoy your health and your youth. Live a little. That awesome, action-packed retirement you foresee may not go according to plan.

And if you know a recent retiree or someone who’s been separated, don’t be afraid to reach out and see how they’re doing. It will bring some sunshine into their life, I guarantee it.
 


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