June 08, 2019, 04:08 PM
ZSMICHAELWas resourced today, 41.5 years with IBM
quote:
So after the initial shock and confusing information given i do not get 90 days severance pay. All it is i get 90 days to find a job, get retrained for another ibm job or try to seek some other job within ibm. So you just get paid your salary plus one month salary, 1 year medical coverage and a reimbursable 2500$ that went to some kind of education you performed.So Monday i will call hr and see what all the options are .
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The biggest issue for you is Medical Coverage. You may have to be retrained within the company to hold onto insurance coverage. Health care access is crucial.
June 08, 2019, 05:57 PM
arfmelYou don’t have any IBM retirement after 40+ years of working for them? Wow.
June 08, 2019, 06:24 PM
Elk HunterI joined IBM in 1966 and eventually retired. Sadly, things started going down hill fast when Akers was made CEO, etc. He was the first president/CEO who did not come from the sales division. In short, he had no idea of who the customer was! He was also the first one to get a "bonus" (AIR 2.5 million) for his performance when he led the company to lose money for the first time.
I think he is the one who decided to sell the Federal Systems Division (FSD) which was making GOOD money!
We were offered a nice deal on retirement and the mass exodus from FSD commenced.
To the OP, sorry for what happened to you!
June 08, 2019, 06:33 PM
BytesI feel bad that your career is ending this way. IBM, WTF? When I was first starting in IT (1978) IBM was my dream company. Fortunately I went into the wild west of PCs. What a great company gone bad. Valkyrie1 I wish you the best.
June 09, 2019, 01:43 PM
flashguyI can sympathize with your pain. However, my experience does not help alleviate your anguish. My very best wishes for your future life, and prayers God will provide guidance.
I underwent essentially 2 "RIFs". After 15 years commissioned service with USAF, 10+ as a Captain (O-3), I failed promotion to Major and was tossed out. I'd been a good hard worker and always performed well, but I just didn't "shine" the way others did. It was a hard blow to my ego, but those around me say I handled it well. I immediately enlisted (E-4 Sgt) to serve out another 5 years so I could retire (as a Captain)--and did. My enlisted service was in a field I'd been trying to cross over into, so I was happy about that, and my last 5 years were very satisfying. When I retired from USAF, I found similar work with Texas Instruments here in Dallas and I worked 26 years for them (last 2 as a consultant). After 24 years (age 67) it was made abundantly clear to me that my days as a salaried employee were numbered and when a retirement "package" was offered, I took it. It was a very generous offer, BTW. Within a month I had been hired by a company to work within the same office I'd left, on the same software I'd written and maintained, as a consultant for a special project. I did that for almost another 2 years. (The project was successful and that software is still running.) I stopped working in December 2006 and have been enjoying myself as a "loose cannon" ever since.
I have lunch with my former coworkers once a month and have even been asked a few questions about "my" software since. (I don't charge them--it's usually just a few minutes in an e-mail, and my pride wants the code to work properly, even though I'm gone.) After 12 years, though, my memories are becoming enough faint that I'm less and less help.
My total employment time of 46 years is just a little longer than yours, but it was divided among 2 main employers. I have found ways to enjoy my retirement, and I pray you will, too. Put this behind you and look to the future. It can be a good life!
flashguy
June 09, 2019, 02:53 PM
wingfootquote:
Originally posted by flashguy:
I can sympathize with your pain. However, my experience does not help alleviate your anguish. My very best wishes for your future life, and prayers God will provide guidance.
I underwent essentially 2 "RIFs". After 15 years commissioned service with USAF, 10+ as a Captain (O-3), I failed promotion to Major and was tossed out. I'd been a good hard worker and always performed well, but I just didn't "shine" the way others did. It was a hard blow to my ego, but those around me say I handled it well. I immediately enlisted (E-4 Sgt) to serve out another 5 years so I could retire (as a Captain)--and did. My enlisted service was in a field I'd been trying to cross over into, so I was happy about that, and my last 5 years were very satisfying. When I retired from USAF, I found similar work with Texas Instruments here in Dallas and I worked 26 years for them (last 2 as a consultant). After 24 years (age 67) it was made abundantly clear to me that my days as a salaried employee were numbered and when a retirement "package" was offered, I took it. It was a very generous offer, BTW. Within a month I had been hired by a company to work within the same office I'd left, on the same software I'd written and maintained, as a consultant for a special project. I did that for almost another 2 years. (The project was successful and that software is still running.) I stopped working in December 2006 and have been enjoying myself as a "loose cannon" ever since.
I have lunch with my former coworkers once a month and have even been asked a few questions about "my" software since. (I don't charge them--it's usually just a few minutes in an e-mail, and my pride wants the code to work properly, even though I'm gone.) After 12 years, though, my memories are becoming enough faint that I'm less and less help.
My total employment time of 46 years is just a little longer than yours, but it was divided among 2 main employers. I have found ways to enjoy my retirement, and I pray you will, too. Put this behind you and look to the future. It can be a good life!
flashguy
Sorry about your job, hope IBM offers you something new that will work for you, sounds like you still would like to work.
Flashguy, nice post, most folks ego wouldn’t let them admit what you did. I bet you are an even tempered guy.
June 09, 2019, 03:05 PM
kramdenAlways put in a good days work. But I learned many years ago that companies consider you a #. That's it. Never waste your time thinking that they really cherish you as an employee. Worked for Americas biggest snack food company for 30 years. Saw so many give there all 24/7 for the "company". Then when they were passed over or their job eliminated they were crushed.