aibohphobia Posted September 2, 2020 Share Posted September 2, 2020 Hello Everyone, Newbie in the forum, seeking information on previous Ford buyouts. We just received general outline of VIP: max. of 9 month severance, leave at end of the year, no healthcare/dental/vision upon departure. Rumor mill since last week had it being a rather juicy offer, so I am a bit disappointed, as it appears to be the same from a few years ago. Anybody here took the offer in last round or studied it at the time? I only vaguely recall it was also a max. 9-month deal. If you have more details on the comparison, please share. Thanks! Quote Link to comment Share on other sites More sharing options...
fuzzymoomoo Posted September 2, 2020 Share Posted September 2, 2020 The only people who post here are hourly factory guys. We probably won't be much help for you. 1 Quote Link to comment Share on other sites More sharing options...
paintguy Posted September 2, 2020 Share Posted September 2, 2020 I'm a retired salary person. Took the phased retirement deal. About a 3 month continuation of pay and benefits. A little after I left, staff level were given the 9 month severance deal. Thought some high seniority retirement types received 12 months. Need to ask yourself, is there a high probability your position could be eliminated or your potential development be limited? What is your best alternate outside of Ford? Are you wiling to relocate? Know some who have taken buyouts or left in the last recession/downsizing. Some have done very well. Skills obtained or honed at Ford served them well. The flip side is others who did not have a good game plan have struggled. In the end, the severance is a nice little nest egg. If it fits your career goals for the next 10 or 20 years, might be right to leave. 1 Quote Link to comment Share on other sites More sharing options...
Decker Posted September 3, 2020 Share Posted September 3, 2020 To add to paint guy's logic, we have had the successful or comfortable retirement incentive takers in the hourly ranks also but, there are many of the not so comfortable or successful situations with the incentive recipients. Most of the less than favorable situations with the hourly incentive takers fall into a couple categories. Not getting all the correct information on or about, social security and pension reductions due to age requirements and the biggest reality of all planning. Any severance can and should be viewed as a nest egg. But with listening to the rumors or not getting the figures in place correctly, could and has been a reality check when the nest egg has to be cracked open and fired up just to get by. 1 Quote Link to comment Share on other sites More sharing options...
Dayshift Posted September 3, 2020 Share Posted September 3, 2020 Wishing you all the best aibohphobia. Not sure I can be of much help but here goes. Like Decker said get all the information and sit down with your financial planner and maybe your accountant before pulling the trigger. Sometime a retirement advisor can help as well. Everytime we go through this we lose a lot of great workers, some go on to do much better at other companies and some struggle to find a new home. Good luck 2 Quote Link to comment Share on other sites More sharing options...
Decker Posted September 4, 2020 Share Posted September 4, 2020 2 minutes ago, nikkinemo95 said: The voluntary incentive program allows facilities to make nutrient reductions in exchange for an extended compliance schedule. The program also creates certainty regarding the year the facility will need to meet water quality based effluent limits. Ummm …. OK Quote Link to comment Share on other sites More sharing options...
akirby Posted September 4, 2020 Share Posted September 4, 2020 1 hour ago, Decker said: Ummm …. OK Spambot from India. Gave it the ban hammer. Quote Link to comment Share on other sites More sharing options...
Decker Posted September 4, 2020 Share Posted September 4, 2020 You are unbelievably frickin swift with that hammer 1 1 Quote Link to comment Share on other sites More sharing options...
aibohphobia Posted September 6, 2020 Author Share Posted September 6, 2020 Thanks everyone, for your well-wishes, insights and witty quips. These pointers and reminders will help me to better evaluate the situation when that package arrives next Tuesday, and and to make a sensible decision for the rest of my life. 2 Quote Link to comment Share on other sites More sharing options...
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