Conference 7.286::digital

	I wonder if this kind of thing is why the buyout packages at DEC
	got *less* each time?

				Alfred

    Although I hear that there are several suits against Digital also,
    due to people not being given an opportunity to accept the first,
    (generous) pkg, and then getting the 2nd or 3rd...
    
    Carol

And I hope people understand not to comment on pending litigations against
Digital in this forum.

re Note 1412.3                    IBM SEVERANCE SUIT                         3 of 3
>
>And I hope people understand not to comment on pending litigations against
>Digital in this forum.

    What litigations ?
    
    Litigations about Retirement or Buyout packages ?
    
    Bob
    


    

    This country (US, I mean) is lawsuit-happy!  In 1985 when 36-bit
    software engineering was phased out and I lost my job in MRO, I managed
    to find a job here in HLO.  One of my friends wasn't so lucky and ended
    up leaving the company to work for a competitor.  He called me last
    week.  The competitor had just laid him off.  He got *one* month's
    severance pay, after 5 1/2 years, and was looking for leads to find
    another job (his wife does not work outside the home, and he has kids
    in college).  These IBM (and DEC) people that are suing thei former
    employers when they got several times that sure have a lot of nerve!
    
    /Charlotte

    I agree. Makes me sick too, especially when the severance 'gift' is
    given to 4 performers. A friend of mine just got laid off from a local
    hi tech company, he is a talented hardware engineer. I think he got
    1 months pay. I wish somebody would offer me the package, looks like a
    great deal when you've got 11 years service under your belt.
    
    Dave

    re .3
    
    _oops_...I didn't realize that it was taboo to mention (what i
    mentioned in .2) :^{
    
    Carol

    
    Will the moderator please delete my .2 reply if it is inappropriate or
    unacceptable here?  I tried and got a provilege violation.
    
    Thanks,  Carol
    

	... of lawsuits, which is publicly available if true. John
properly warned that it should not go past that in this forum.

No sweat, IMHO.

Would someone kindly put in this note, the money figures for all three
TFSO packages, I would like to know what they were. I cannot find them
in any of the notes in this conference.

Thanks

    Re: .11
    
    I'm not sure about the dollar values but the code name for each
    package are as follows:
    
    	1. Golden Handshake
    	2. Silver Salute
        3. Brass Ring
        4. Leather Boot  (Next one)
    
    Jake
        

    re .-1
    
    I have been calling the current ISP buyout...
    
    "The Silver Bullet"
    
    Mark  ;^)

    from memory (which should immediately make it suspect!)
    
    the first package:
    40 weeks salary... plus
    3 weeks salary for every year tenure from 2 thru 10 years... plus
    4 weeks salary for every year tenure from 10 thru 20 years... plus
    1 year extended medical/insurance benefits
    
    
    the second package:
    13 weeks salary... plus
    3 weeks salary for every year tenure from 2 thru 10 years... plus
    4 weeks salary for every year tenure from 10 thru 20 years... plus
    1 year extended medical/insurance benefits
    
    the third package:
    13 weeks salary... plus
    3 weeks salary for every year tenure from 2 thru 10 years... plus
    4 weeks salary for every year tenure from 10 thru 20 years... plus
    extended medical benefits for a time not to exceed the number of weeks
    "severance pay" received.
    
    I understand the third package will shortly expire. (end of quarter)
    
    tony
    

    re .0
    
    Seems to me IBM acted quite reasonably, if you believe employees
    are compensated according to their utility to the company, and that
    the severance package is part of that compensation.
    
    First time around, you get rid of the least useful employees,
    who are deemed to be worth $x.  
    
    Next time around, you get rid of some slightly more useful 
    employees, who are deemed to be worth $y, y>=x.  Of course,
    IBM could still have paid $x, or even <$x, since it was
    a buyer's market.  Don't they deserve credit for paying
    the full value?  :-)
    
    (Note I said "useful", which is not to be interpreted as
     "highly-rated performers", "fine human beings", "experienced",
     or anything else - simply judged on the utility to the
     compnay, there and then).

    I saw a program on this other day out in Santa Clara.  Anyone else see
    or have the latest information on the suit against the IRS or can pint
    me in the right direction?
    
    Thanks.
    Marie

    Yeah, I saw that too; Interesting...
    
    Something to the effect that since they signed an agreement to get
    their package, and since the agreement covered <mumble>, that their
    package(s) shouldn't have been subject to taxes. (And if the suit was
    successful, IBM would even get its social security money back).