New boss interviewing existing employees

[Arlington Road]

I don't believe that zddoodah stated such a thing as a certainty, except to point out that you seemed to imply that you would be eligible for a monetary benefit in "just over 3 and a half years".
You would not necessarily be entitled to anything solely because your employment is terminated. The only way you would be entitled to something (let's call it "severance pay") is if you have a contract that provides for it. Of course, if you are able to prove (not just allege) age discrimination, then you may also be entitled to something that's not what you referred to (or what zddoodah responded to).

I see what zddoodah meant now. I mean, my retirement is MY retirement. It doesn't belong to the company and it surely doesn't belong to some new boss. Make no mistake about it. No matter how it's sliced, it is going to cost new boss some $$$ to make people go away. If NOTHING else, we would be owed a severance along with full pay for any/all unused vacation time. And that is not speculation. I have that in writing. There could also be an early buy out of those of use who are within range of retirement eligibility.

 

[Zigner]

Oh, make no mistake about it. No matter how it's sliced, it is going to cost new boss some $$$ to make people go away. If NOTHING else, we would be owed a severance along with full pay for any/all unused vacation time. And that is not speculation. I have that in writing. There could also be an early buy out of those of use who are within range of retirement eligibility.

Great - it sounds like you're all set then.

 

[Arlington Road]

I have in the past gone through two hostile takeovers (one from the acquiring and one from the acquired side) and two mergers of major companies. In all cases, the lower down the ladder you were, the more likely you were of keeping your job. It was the folks at the upper end who found themselves, as the British say, Made Redundant. (Of the four, the only time I lost my job was the hostile takeover when we were acquired; they closed the entire division as the acquiring company already had an office in our city. Not one of us was absorbed into the existing location. However, no one in any of our other nine locations lost their job.

For what it's worth.

Have you ever had any experience with buyouts? And is a buyout just a severance package by another name?

 

[Zigner]

Have you ever had any experience with buyouts? And is a buyout just a severance package by another name?

Is there a contract in place that offers some sort of "buyout"?

 

[Arlington Road]

Is there a contract in place that offers some sort of "buyout"?

Yes

 

[zddoodah]

That is correct. I don't yet know this person's gender, so that is why I am going with the pronouns "they" and "them".

Got it. Thanks.

As zddoodah pointed out, I (as well as others) will be eligible for some sort of monetary benefit, should this individual decide to clean house.

Whoa there...I didn't mention that. I didn't imply it. Nothing of the sort. You made a comment about "be[ing] eligible for retirement" in a few years, and I wrote that "I assume[d] what [you] actually mean[t] is that you will become eligible for some sort of monetary benefit. I don't know anything about what retirement benefits you might be eligible for now or at any point in the future.

Nothing you have posted suggests that you "will be eligible for some sort of monetary benefit [if the new supervisor decides] to clean house."

 

[cbg]

I don't know if what you're calling a buyout is what I have experience with, but my current employer has on several occasion offered a Voluntary Early Retirement Incentive Plan (VERIP). There was one the year before I started which was still in the cleanup process when I started, a small one three years later, and a massive one last year. But the thing with a VERIP, at least where I work, is that they are entirely voluntary. Here are the criteria; you have to be at least x years old, you have to have at least x years of service to the university, etc. Here is what we will give you if you decide to retire between x date and y date. If you take it, great; if you don't take it, no harm no foul. If you don't want to retire, you don't have to. If you do want to, here's your incentive. (I missed being eligible by nine weeks.) You're not forced to do anything.

 

[Arlington Road]

Got it. Thanks.



Whoa there...I didn't mention that. I didn't imply it. Nothing of the sort. You made a comment about "be[ing] eligible for retirement" in a few years, and I wrote that "I assume[d] what [you] actually mean[t] is that you will become eligible for some sort of monetary benefit. I don't know anything about what retirement benefits you might be eligible for now or at any point in the future.

Nothing you have posted suggests that you "will be eligible for some sort of monetary benefit [if the new supervisor decides] to clean house."

Didn't you see where I said that I had misread that? That's my bad. Upon further inquiry, it turns out that yes, it will cost the new boss some money if/when they decide to clean house. First of all, my retirement is still MY retirement. It doesn't belong to the new boss. I can roll that to an IRA or something of that nature, should I be terminated. Also, the new boss MUST pay anyone terminated for any/all unused vacation time, plus a severance. So, even in the WORST case scenario, I (or anyone else being let go) won't be leaving there with just whatever is in our pockets. The new boss had best be ready to write some checks because they will be writing quite a few, if they chose to go the house cleaning route.

 

[army judge]

The new boss had best be ready to write some checks because they will be writing quite a few, if they chose to go the house cleaning route.

Houses can get cleaned upon the arrival of Ms. Big shot and Mr. Big stuff.

However, crafty, clever Big Bosses, often bide their time after their acquisition.

Time passes, and while it does, lists are created.

Sooner or later, those on the lists are banished from the premises.

Ms. Big shot and Mr. Big stuff are established, patient executioners.

Allow the little lemmings to settle down, settle back in, and exterminate them en masse when the time is best for their betters.