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Layoff Package

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Anonymous said:
Severance of 1 week per year is what I'm told. For people with 15-30 years this is still low but time to get a start on job searches. For those with less than ten years its pretty foul. How can you insult people by cutting them then put them in hard times especially in this economy? The older you are the harder it is to get any interviews or offers. All about money and padding pockets but not the pockets that need padding!
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(1) Pharma is no longer the gravy train it once was....it is transforming itself into becoming like any other industry (i.e., no pension, no severance package). A once successful, highly regarded industry has become less than ordinary, due to lack of innovation and HMO/government controls.

(2) Merck is a reflection of the greed that is rampant throughout the country....execs that are part of the elite class are living off of the vanishing middle class...the United States is no longer the land of opportunity that it once was....and it is increasingly becoming less and less free, as the government takes as much money away from you that it can get its hands on, redistributing what little wealth you can accumulate, so that it can support entitlements for the lower class. The sad thing is, where does one go when the USA fails?
 








Anonymous said:
so I hear that the LSP employees are thinking of a class action suit based on the way performance appraisals were used to give more to LM employees and less to LSP employees .... I for one will join .... anyone else out there?
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Me too! Where can I go to learn how to join? Serious replies please. This company has ruined my career. I am never looking back at pharma. I now have inner peace, no more worrying, confidence, and quality time with myself, family and friends. There is life after pharma.
 












Anonymous said:
Does anyone know what happens with your pension if you are laid off? Can you take it as a lump sum or do you have to wait on it?
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Say if you are 50 and became a layoff casualty. Merck may bridge you to retirement which mean you can buy medical and dental coverages as a retiree. But I believe you cannot touch the pension until you are 55 or older.
 




You have to be 49 1/2 to be eligible for lump sum option...If you are below that age and a casualty of lay off...you only have annuity options to choose from. Annuity options only avaialble when you hit 55 minimum age..

You can calc your lump sum figure on line...somewhere on that God damned Merck Central website. You know...the site they paid 2-3 million to develop with vendors that cannot do anything right.
 








Anonymous said:
You have to be 49 1/2 to be eligible for lump sum option...If you are below that age and a casualty of lay off...you only have annuity options to choose from. Annuity options only available when you hit 55 minimum age..

You can calc your lump sum figure on line...somewhere on that God damned Merck Central website. You know...the site they paid 2-3 million to develop with vendors that cannot do anything right.
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I actually managed to obtain 95% of the information needed for retirement through that web site. It's not the fault of the vendor. It's the confusing nature in trying to figure it out with so many options. They can only set it up with whatever HR provides them. Then I called HR live for the rest of my questions. We all wish it can be clearer given it is money and retirement-related.
 
















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