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Anyone see official Buyout letter today ?
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<blockquote data-quote="Ricochet1a" data-source="post: 1009383" data-attributes="member: 22880"><p>Carrot or the stick....</p><p></p><p>The buyout will be the carrot. The "word" is that those who don't grab the carrot next March or April, will be looking at the stick in May or June (involuntary layoff with no payout). The reason for the buyout is to get as many as possible whose positions are targeted for elimination to VOLUNTARILY take the cash (therefore making them INELIGIBLE for unemployment benefits), and thus saving Express the liability of paying for just laying everyone off. </p><p></p><p>Right now, the Memphoids know what is coming in October (the announcement was made to help reduce some of the anxiety and speculation), but the exact positions to be eliminated won't be announced till October. Then (supposedly), a buyout package will be offered (details of which haven't been publically released) and those in the targeted positions will have till March or April to accept or reject them. If someone rejects the buyout - they'll know that they'll be laid off within a few months after that. </p><p></p><p>Those targeted for elimination will have to evaluate their personal circumstances to determine whether they'll come out ahead by accepting the buyout offered (if they have something else lined up - the buyout will be a no-brainer), or come out ahead by rejecting the buyout and collecting unemployment. </p><p></p><p>In most circumstances, if there isn't a hiring freeze on hourly positions, those who turn down a potential buyout will still be eligible to put in a JCATS bid for a wage position up to and until they are handed a pink slip. </p><p></p><p>Now... since all the Memphoids are in Memphis - there isn't a hell of a lot of options unless they want to work in the middle of the night at the hub. Very few would be willing to relocate at their own expense to accept an hourly position - most likely a part-time in this economic climate. So other than a very few who may be just a few years out of working a wage position - I don't think you're going to see many cubical dwellers look to get into anything which requires physical work - they'll take either the buyout or unemployment.</p></blockquote><p></p>
[QUOTE="Ricochet1a, post: 1009383, member: 22880"] Carrot or the stick.... The buyout will be the carrot. The "word" is that those who don't grab the carrot next March or April, will be looking at the stick in May or June (involuntary layoff with no payout). The reason for the buyout is to get as many as possible whose positions are targeted for elimination to VOLUNTARILY take the cash (therefore making them INELIGIBLE for unemployment benefits), and thus saving Express the liability of paying for just laying everyone off. Right now, the Memphoids know what is coming in October (the announcement was made to help reduce some of the anxiety and speculation), but the exact positions to be eliminated won't be announced till October. Then (supposedly), a buyout package will be offered (details of which haven't been publically released) and those in the targeted positions will have till March or April to accept or reject them. If someone rejects the buyout - they'll know that they'll be laid off within a few months after that. Those targeted for elimination will have to evaluate their personal circumstances to determine whether they'll come out ahead by accepting the buyout offered (if they have something else lined up - the buyout will be a no-brainer), or come out ahead by rejecting the buyout and collecting unemployment. In most circumstances, if there isn't a hiring freeze on hourly positions, those who turn down a potential buyout will still be eligible to put in a JCATS bid for a wage position up to and until they are handed a pink slip. Now... since all the Memphoids are in Memphis - there isn't a hell of a lot of options unless they want to work in the middle of the night at the hub. Very few would be willing to relocate at their own expense to accept an hourly position - most likely a part-time in this economic climate. So other than a very few who may be just a few years out of working a wage position - I don't think you're going to see many cubical dwellers look to get into anything which requires physical work - they'll take either the buyout or unemployment. [/QUOTE]
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Anyone see official Buyout letter today ?
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