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2012-Year of Severance-Less Than 12 Months to Wait

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Anonymous said:
I agree that younger sales reps have more concerns than the 50+ crowd. Most people who are 50+ have been in this industry 15-25+ years while making a significant amount of income. They have homes paid off, huge 401k's and a fat pension. They have had multiple career and promotional opportunities in their career. Sure if you lose your job it will be tough to replace that same standard of living but you've made a ton of money for a number of years. For the reps who are 5-10 years into our careers we are screwed. We have salaries that are on avg. 25% lower than our esteemed colleagues and absolutely 0 opportunities to he promoted or increase our income. We are stuck unless we want to jump ship to another company and lose all tenure/severance pay. We have young families with many many expenses a 50+ year old rep doesn't have. I don't live outside my means but I don't feel sorry for the 50+ crowd because I know financially they are way better off than their younger colleagues. It sucks that we all wake up every morning just waiting for the next layoff announcement.
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Our 23 y/o recent college grad landed a 60K job. All based on grades and an internship last summer. Its the new way for young to get ahead. 50s cant get these jobs even with 25 years of experience.
 




Anonymous said:
That is not the bright or dark side. It is called the idiotic side. Who would be stupid enough to put all the eggs in one basket?
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How do you think we got into this mess? We stopped looking for the best qualified people and selected spouses,family members, and friends for positions. R&D is a big mess because of it.
 




Agree that is is dumb for a husband and wife to work in same company. Very surprising it even goes on here a lot of companies ban it. Also surprising so many two incomers cry the loudest about layoffs. Nobody wants a layoff most of the time but get a grip...you have another income. Its the one incomers I think about. They can lose everything without even one sustaining income. I dont know anyone in my area of the country who could pay for much beyond groceries with just a weekly unemployment check.
 




My sentiments with some of the posters who are older. In my 50s and have had several layoffs before coming here a short time ago. Still have a big debts to pay and a big mortgage. Estimated work time for me since I have no pension is at least another 20-25 years. Even then I will depend on SS as the major income source. Very frugal, but the unexpected in life does occur. Bills come out of the blue with family, illness and medical care. People lose their life savings and their homes. For all you complainers think about all you have. If you have been able to enjoy longevity for 10-15-20 or more years in one company and with a pension you are fortunate and blessed. Thats something most people can not find or hold onto anymore. With any layoffs you will have that for your future and that is very comforting.
 




Anonymous said:
My sentiments with some of the posters who are older. In my 50s and have had several layoffs before coming here a short time ago. Still have a big debts to pay and a big mortgage. Estimated work time for me since I have no pension is at least another 20-25 years. Even then I will depend on SS as the major income source. Very frugal, but the unexpected in life does occur. Bills come out of the blue with family, illness and medical care. People lose their life savings and their homes. For all you complainers think about all you have. If you have been able to enjoy longevity for 10-15-20 or more years in one company and with a pension you are fortunate and blessed. Thats something most people can not find or hold onto anymore. With any layoffs you will have that for your future and that is very comforting.
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I am grateful. Retired after close to 30 years. The pension is decent enough. I have to live frugally but still enjoying life. The Fidelity retirement planner (anyone can go online and run it) states clearly to plan until you are 92. 25% of current retirees will still be around according to them. In the old days they said plan until you live to the 80's. Now to your 90's.
 




Anonymous said:
My sentiments with some of the posters who are older. In my 50s and have had several layoffs before coming here a short time ago. Still have a big debts to pay and a big mortgage. Estimated work time for me since I have no pension is at least another 20-25 years. Even then I will depend on SS as the major income source. Very frugal, but the unexpected in life does occur. Bills come out of the blue with family, illness and medical care. People lose their life savings and their homes. For all you complainers think about all you have. If you have been able to enjoy longevity for 10-15-20 or more years in one company and with a pension you are fortunate and blessed. Thats something most people can not find or hold onto anymore. With any layoffs you will have that for your future and that is very comforting.
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you really need 20-25 years at a company to get anything that resembles a decent pension. The way they calculate it is not in the employees interest anymore. Maybe it is because people are living longer, I don't know. With 15 years at merck the pension is still pretty low. I just don't know. What is every else getting with 15 years?
 




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