• Tue news: Where do Harris and Trump stand on health policy? Medtronic renal denervation coverage. Canada less likely to have drug shortages? Wall Street wants CVS execution plan. Nektar manufacturing facility sale. See more on our front page

Walk Away?

Quote










Anonymous said:
As far as I'm concerned, any time you walk away from this P.O.S. company is the right time to walk away.
Click to expand...
I don't care what age you are, or how close to retirement you are...(ok, maybe if you are like 1-2 years away--you might as well stay) but otherwise WALK!!

Remember that cheeseball cliche that "Today is the first day of the rest of your life!" Well, it is really pretty accurate actually...Everyday spent at Merck is a day wasted in starting some sort of more rewarding career. Staying for the above average pay gets real old when you are being hassled and pushed out by evil Merck middle managers...

I am sorry I wasted so much time at this toxic company...It might look pretty dark now, but I am already happier being out of this insane asylum called Merck.
 




Anonymous said:
I don't care what age you are, or how close to retirement you are...(ok, maybe if you are like 1-2 years away--you might as well stay) but otherwise WALK!!

Remember that cheeseball cliche that "Today is the first day of the rest of your life!" Well, it is really pretty accurate actually...Everyday spent at Merck is a day wasted in starting some sort of more rewarding career. Staying for the above average pay gets real old when you are being hassled and pushed out by evil Merck middle managers...

I am sorry I wasted so much time at this toxic company...It might look pretty dark now, but I am already happier being out of this insane asylum called Merck.
Click to expand...

If you are the sole income and have heavy monthly expenses you have little to no choice. Look around but you must stay until another job appears or you are forced out with the cuts. If you have a working spouse or another source of sustainable income you can walk away with a smile, then look or start your own business. Eveyone is in a different place. Close to retirement age? Stick it out as long as possible, especially if you are short on years toward any pension. The older you are the lower your chances are for rehire.
 




Close to retirement age? Stick it out as long as possible, especially if you are short on years toward any pension. The older you are the lower your chances are for rehire.
Very true. I'm 2 years 4 mos away from being able to walk with pension. If they cut me sooner, then at least I walk with a package of some sort. Would be foolish to leave on my own accord now....unless I win the lottery! Then it's "take this job and shove it!"
Click to expand...
 




Anonymous said:
I don't care what age you are, or how close to retirement you are...(ok, maybe if you are like 1-2 years away--you might as well stay) but otherwise WALK!!

Remember that cheeseball cliche that "Today is the first day of the rest of your life!" Well, it is really pretty accurate actually...Everyday spent at Merck is a day wasted in starting some sort of more rewarding career. Staying for the above average pay gets real old when you are being hassled and pushed out by evil Merck middle managers...

I am sorry I wasted so much time at this toxic company...It might look pretty dark now, but I am already happier being out of this insane asylum called Merck.
Click to expand...

That would be true if the unemployment rate was around 5% and finding a good job is easy. The economy is contracting right now, inflation is moving up at a considerable pace, and things can cycle back down pretty quick. The difference between what we are heading into now compared to 2-3 years ago is the inflation factor. That is a big problem. Also any new jobs being created is for very low pay. Companies have knowledge of the unemployment rate and they know people will take jobs at a 25% discount on pay. Merck does suck but just be CAREFUL. All sectors of the economy are now tightening up. I just hope they get this inflation in check. They can't raise the federal funds rate (around 0-.25%) to slow down inflation because it will negatively impact a fragile economy. I am more worried now than I was 3 years ago.
 




Anonymous said:
That would be true if the unemployment rate was around 5% and finding a good job is easy. The economy is contracting right now, inflation is moving up at a considerable pace, and things can cycle back down pretty quick. The difference between what we are heading into now compared to 2-3 years ago is the inflation factor. That is a big problem. Also any new jobs being created is for very low pay. Companies have knowledge of the unemployment rate and they know people will take jobs at a 25% discount on pay. Merck does suck but just be CAREFUL. All sectors of the economy are now tightening up. I just hope they get this inflation in check. They can't raise the federal funds rate (around 0-.25%) to slow down inflation because it will negatively impact a fragile economy. I am more worried now than I was 3 years ago.
Click to expand...

Worry is the right word. Obama spending and debt creation could send us to a Greek stytle crisis within a short time. Reign back spending!! Cut entitlements with abusive longterm welfare recipients, the free food stamps for the lazy, excess medicaid coverages and SS on those making multimllion dollar salaries, cut public workers mega pensions and free benefits. There are real solutions. As for us....even contract crap work will dry up if pharma becomes a niche industry. Just remaining middle class will become a major feat.
 




Anonymous said:
Worry is the right word. Obama spending and debt creation could send us to a Greek stytle crisis within a short time. Reign back spending!! Cut entitlements with abusive longterm welfare recipients, the free food stamps for the lazy, excess medicaid coverages and SS on those making multimllion dollar salaries, cut public workers mega pensions and free benefits. There are real solutions. As for us....even contract crap work will dry up if pharma becomes a niche industry. Just remaining middle class will become a major feat.
Click to expand...

I did not want to say that because next thing you know people think your a Obama basher. That is a part of it. He is part of the problem but not the only reason why we are in this mess. If inflation continues to raise, most companies will put a freeze on the increase cost of living expenses for the retired people. That can turn into an issue. You retire will 2000 dollars a month pension, 5 years from now that 2000 will have 1500 worth of spending power. That will be a bad thing big time.
 




Anonymous said:
I did not want to say that because next thing you know people think your a Obama basher. That is a part of it. He is part of the problem but not the only reason why we are in this mess. If inflation continues to raise, most companies will put a freeze on the increase cost of living expenses for the retired people. That can turn into an issue. You retire will 2000 dollars a month pension, 5 years from now that 2000 will have 1500 worth of spending power. That will be a bad thing big time.
Click to expand...

Merck pension does not have a COLA...
 




Anonymous said:
Merck pension does not have a COLA...
Click to expand...

Yep, I know. We're lucky I think that Merck still offers a defined benefit pension. One must decide whether to take the annuitized guaranteed benefit without a cola but with a fixed amount guaranteed to some extent, or to reinvest one's lump sum into a non-guaranteed product with a growth objective that "may" provide inflation protection over the long run. It all comes down to one's income needs at the time of retirement. Some simply take the guaranteed amount and continue to reinvest it as a hedge against inflation without giving up the guarantee. Others buy insurance against an untimely death to protect their spouse. Your income needs should dictate your decision.
 




Anonymous said:
Yep, I know. We're lucky I think that Merck still offers a defined benefit pension. One must decide whether to take the annuitized guaranteed benefit without a cola but with a fixed amount guaranteed to some extent, or to reinvest one's lump sum into a non-guaranteed product with a growth objective that "may" provide inflation protection over the long run. It all comes down to one's income needs at the time of retirement. Some simply take the guaranteed amount and continue to reinvest it as a hedge against inflation without giving up the guarantee. Others buy insurance against an untimely death to protect their spouse. Your income needs should dictate your decision.
Click to expand...

No cost of living increase? I started 2 years ago and I assumed there would be. That was a standard in defined programs where only now some companies are changing that now. That is a pretty big blow to the system. Maybe they will change that in the future if people are displeased. The person who wrote that 2000 can be 1500 was correct then. If things go bad in the economy and over time that 2000 can be 1000 or even less. I do not believe it is fair. The retired people are the ones who paved the way for me to get hired. If they did not work hard when they were here, Merck would not have made money. Then they would not be able to hire new people like myself.
 




Anonymous said:
No cost of living increase? I started 2 years ago and I assumed there would be. That was a standard in defined programs where only now some companies are changing that now. That is a pretty big blow to the system. Maybe they will change that in the future if people are displeased. The person who wrote that 2000 can be 1500 was correct then. If things go bad in the economy and over time that 2000 can be 1000 or even less. I do not believe it is fair. The retired people are the ones who paved the way for me to get hired. If they did not work hard when they were here, Merck would not have made money. Then they would not be able to hire new people like myself.
Click to expand...

To the best of my knowledge, Merck never had a COLA (been here 20 yrs)
 




Anonymous said:
To the best of my knowledge, Merck never had a COLA (been here 20 yrs)
Click to expand...

You are absolutely correct grasshopper (been here 30). You who grouse about no COLA are being incredibly naive. Do you not understand that defined benefit pension programs like Merck offers have been discontinued by many major employers? You are extremely fortunate that Merck still offers one. I anticipate the day will come when Merck announces that they will only continue to offer their defined contribution pension (aka 401k) where they match a portion of the employee's contribution but 100% of investment risk is assumed by the employee. So current Merckies should count their blessings about being offered BOTH a defined benefit pension plust a defined contribution program for now. This is something that is still good at Merck despite their pension payout calculation changes. Count your blessings for now. Those with COLA's built into their pensions have largely been (can you guess) members of unions. (Do Merck's union members have a COLA built into their pension?)
 




Isn't COLA kind of a term only the union thugs get to use in their contracts? We are non-union. Indeed the previous poster is correct that we should count our blessings (among all the other curses) that we still have a pension plan. A few years back we were told to take responsibility and contribute more towards the 401K for retirement. The calculation for pension is ever changing for the worse but we still have one. Last week a friend at Gannet said some of the local newspaper they own have ended the pension plan already.
 




Anonymous said:
You are absolutely correct grasshopper (been here 30). You who grouse about no COLA are being incredibly naive. Do you not understand that defined benefit pension programs like Merck offers have been discontinued by many major employers? You are extremely fortunate that Merck still offers one. I anticipate the day will come when Merck announces that they will only continue to offer their defined contribution pension (aka 401k) where they match a portion of the employee's contribution but 100% of investment risk is assumed by the employee. So current Merckies should count their blessings about being offered BOTH a defined benefit pension plust a defined contribution program for now. This is something that is still good at Merck despite their pension payout calculation changes. Count your blessings for now. Those with COLA's built into their pensions have largely been (can you guess) members of unions. (Do Merck's union members have a COLA built into their pension?)
Click to expand...

Oh "master" / "learned-one", as it turns out, I wasn't "grousing", I was informing someone who was! I agree that we are fortunate to still have a defined benefit pension (although I too fully expect it will be eliminated soon). For one so wise, you jump to conclusions too swiftly.
 




Anonymous said:
You are absolutely correct grasshopper (been here 30). You who grouse about no COLA are being incredibly naive. Do you not understand that defined benefit pension programs like Merck offers have been discontinued by many major employers? You are extremely fortunate that Merck still offers one. I anticipate the day will come when Merck announces that they will only continue to offer their defined contribution pension (aka 401k) where they match a portion of the employee's contribution but 100% of investment risk is assumed by the employee. So current Merckies should count their blessings about being offered BOTH a defined benefit pension plust a defined contribution program for now. This is something that is still good at Merck despite their pension payout calculation changes. Count your blessings for now. Those with COLA's built into their pensions have largely been (can you guess) members of unions. (Do Merck's union members have a COLA built into their pension?)
Click to expand...

If that day comes--that Merck announces it will eliminate the "defined pension benefit"--I would imagine those already retired who have started collecting their "annuitized gauranteed benefit" (i.e., monthly payout); or even those currently over 50 and close to retirement, would be grandfathered. Am I correct?
 




Anonymous said:
If that day comes--that Merck announces it will eliminate the "defined pension benefit"--I would imagine those already retired who have started collecting their "annuitized gauranteed benefit" (i.e., monthly payout); or even those currently over 50 and close to retirement, would be grandfathered. Am I correct?
Click to expand...

I would assume you are correct. Those retired would not be affected. It might just mean new hires would see the change. I know John Deere discontinued their pension some years back and any new hires had 401k's only.
 




Anonymous said:
Oh "master" / "learned-one", as it turns out, I wasn't "grousing", I was informing someone who was! I agree that we are fortunate to still have a defined benefit pension (although I too fully expect it will be eliminated soon). For one so wise, you jump to conclusions too swiftly.
Click to expand...

My apologies are definitely owed to you. I was being silly and did not mean to include you in the "grousing" league although my post made it seem like I did. Sorry! Anyone with 20+ years should know better.
 




Anonymous said:
Isn't COLA kind of a term only the union thugs get to use in their contracts? We are non-union. Indeed the previous poster is correct that we should count our blessings (among all the other curses) that we still have a pension plan. A few years back we were told to take responsibility and contribute more towards the 401K for retirement. The calculation for pension is ever changing for the worse but we still have one. Last week a friend at Gannet said some of the local newspaper they own have ended the pension plan already.
Click to expand...

I am not a big fan of unions but they do help with COLA and age discrimination. Most people hate paying the dues because that is all they are good for. The wrong union in place could implode a company.
 








Top Bottom
Back
Quote