Sunday, September 22, 2013

And so it begins...

Lou and I are on our way to London. A long awaited vacation. We have lots of places we want to go and things to see.

One thing we didn't expect to be doing is contemplating "early retirement".  Our employer hit the news big time on Friday by announcing that we are cutting $330 million from the 2014 budget. Even though I knew this was coming, it was $130 million more than expected. This isn't a one time thing. The plan is to cut for the next 5 years so that we reduce the annual budget by $1 billion...yes...$1 billion.

In the next few weeks they will be sending out early retirement packets to select people ... the old ones.  At what point did we become the old ones. We already know that Lou is on the list and I would bet that I am on the list.  We have no details...just that it's coming.  If they don't get the necessary retirements there is also a list of people to be laid off....although neither one of us believe we are on that list.  We' both believe in making ourselves assets to our employer and we have been pretty successful at that.

Even if you do get a retirement package it doesn't mean you have to take it.  But it just feels like a slap in the face. All the knowledge and experience seems to mean nothing if you fit some formula. The idea is that younger, less experienced, and less expensive person can take your place

We've just paid off the house and I've been thinking that now is the time to really sock away the money for retirement.  I just assumed we would both maintain our jobs for the next few years...for me...the next 10 at least.  But considering the amount of this reduction there is no saying that if I survive the cuts this year that I will survive them the next...or the next...or the next...or the next.  I don't like uncertainty so this has really has me angry.

We got a break here while we are on vacation to figure out what we are going to do with the rest of our lives

And so it begins........


Betty' Moyer said...

Hi Gail, I wish you safe travels and lots of FUN! I understand the feeling of receiving a retirement package, and then what to do going forward. I know that you have been venturing in the Jewelry business. I hope that is going well, but do you have true residual income? Lets talk when you return home 919-625-3558 or email me Gail.
Have fun, talk later
Betty Moyer

Books We Read said...

I am also trying to figure out what to do. Today is my last day at my job. Have been looking for job for the last 12 months but no luck. I just can't stand my abusive boss anymore after feeling extremely miserable for 2 years.