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Conference rdvax::grateful

Title:Take my advice, you'd be better off DEAD
Notice:It's just a Box of Rain
Moderator:RDVAX::LEVY::DEBESS
Created:Wed Jan 02 1991
Last Modified:Fri Jun 06 1997
Last Successful Update:Fri Jun 06 1997
Number of topics:580
Total number of notes:60238

204.0. "Buy-out Man..." by SAHQ::SWITTS (It's Summer in Atlanta) Fri Oct 11 1991 14:02

    I did not see a note on this so I thought I would create one....
    If any of the moderators feel this should be moved or not included
    in this file please feel free to move or delete it, I am not that 
    attached to it...
    
    My entire group was given the buy-out yesterday, 9 of us.   Myself,
    an Imaging and Electronic Publishing Technical Support person, 
    my friend Allen, a Pathworks/PC expert, Dave, an Ultrix and 
    Motif/Windows programmer, and several others.   I am not sure how
    many of you out there are in the same boat but I figuered a note
    might make me feel better and maybe you.   Talking about things with
    friends always seems to help me....
    
    The downtown office in Atlanta got rid of 40 people this round, if you 
    add up this buy-out with the last one they have gotten rid of about 60% 
    of the workforce. I really don't understand the resoning behind some
    of the people that got the buy outs, many of which are very important.
    Meanwhile, there are many under performers left....
    
    By the way, I will not be leaving DEC (I don't think at least) I have
    gotten 2 offers internally since yesterday so I will probably stay.
    My biggest dilema is that the buy-out is really a pretty good deal,
    I would walk away with about 36 weeks pay, and have a offer outside the
    company I could walk right into paying 20% more but with less beny's.
    
    If I stay, I could get layed off in the next round and get nothing, If
    I go, I start at the bottom again with vacation time, etc... and also
    have no guarentee of not getting layed off from some other company.
    
    Its a tough decision especially after 9 years of DEC.  
    
    How is everyone else handling it?  So many of my friends over the last
    5 months have been layed off I can't believe it.   This will be my 4th
    job in 15 months, everytime I take a job in the field supporting
    Imaging, office, etc.. either the site (Like the ACT's) are closed
    or they get rid of the support mechanizms for the field.  
    
    How are the people up norht handling all these buy outs...???
    How many people are your groups lossing this round?
    What is the percentage of workers vs. manages being layed off in your
    organization?
    
    I guess I am just trying to get an idea of what is going on in the rest
    of the company since no one here seems to know....
    
    Randy
    
    
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204.1Topic is perfectly okNECSC::LEVYWhere I'm dreamingly amazedFri Oct 11 1991 14:158
As a moderator, I have no problem with this topic at all...perfectly appropriate
to discuss this stuff.

Sorry that you're put in a position like this Randy.

	~dave

p.s. - It was really good to see you at the show in Boston!
204.2CLOSUS::BARNESFri Oct 11 1991 14:189
    hang in there Randy, I know how hard it is seeing people you've worked
    with for 10-15 years walked out the door. It's only a matter of time
    before our group is hit again. Personaaly, when all this started, what
    now 2 years ago? my stomach was in knots every nite..I drank heavily
    (well that hasn't changed %^) ) and I was bitch at home. High Anxiety
    to the MAX!...Now I've learned to ignore it ALL until it REALLY
    affects me, other than how it affects me as I see friends leave.
    
                                                   rfb
204.3WFOV12::BUTZEQuick beat of an icy heart...Fri Oct 11 1991 15:1419
    Randy.....go with your gut feel...I've been through three layoffs
    in past jobs and two size downs with buy outs in Dec. Here are some
    things that I have come down to.
    ......If you have the opportunity to get another job that has some
    stability to it,equal to or better than DEC....and some-one wants to
    you 3/4 a year worth of salary...DO IT...you will never have the
    chance again to let someone hand you that amount of cash that 
    could gain you a tidy yield (invested correctly). Especially if 
    you have a young family.  Look bud, your vested...and if you have that
    job for sure...go for it...you can transfer any long term savings 
    (401k).  Being able to deposit a good chunk of change should never
    be passed up.   I feel that DEC is gonna be unstable in all areas
    for a while to come and until it settles down we all will be looking
    over your shoulder if you can live with it ok, but if you can't don't
    miss a good opportunity....BTW my last job was a buy out and I ended
    up at DEC, (not 36 weeks pay but 10 ain't bad).
    
    be good
    rich
204.4BCSE::ABBOTThat would be tellingFri Oct 11 1991 18:1418
    Also getting a large chunk of cash is a good chance to do some
    short-term big investing, like treasury bills that pay over 10%.
    
    How's the economy in Atlanta? Probably better than New England. If you
    have a definite chance at an equal or better job at a secure company,
    it may be worth the gamble. Maybe you could bargain some extra vacation
    time, with small companies you can, larger companies are pretty set in
    their ways. No telling when you may be termed redundant again but not
    given a buyout, or not have another group willing to hire you.
    
    The desicion is really up to you, but if the jobmarket in Atlanta is
    good and they give you enough time to decide on the buyout so that you
    can get a feel for the job market, it may be worth it. These days, many
    years of service hardly means anything when it comes to downsizing,
    except for the "benefits" you earn.
    
    Scott
    
204.5RANGER::NOURSEMon Oct 14 1991 11:171
Take the money and run...
204.6TERAPN::PHYLLISWake, now discover..Mon Oct 14 1991 11:2514
    
    Hi Randy,
    
    I'll miss you in here.. but I say take the outside job!!!  You might be
    starting all over again in terms of seniority, but look what seniority
    gets you here :-/.. nothing!  At least you get to start out well ahead
    of the game with that big chunk of change in the bank.  I believe this 
    is the last time the package will be offered here, and who knows what 
    group will be wiped out next.  
    
    Good luck whatever you choose.  These decisions are never easy.
    
    Phyllis
    
204.7Be a good DECscout, be prepared!SPOCK::IRONSMon Oct 14 1991 13:3510
    Yeah man, go for it!!
    
    I've been trying to get myself ready for the big DECblue axe.  Learning
    as much as I can about Pathworks/PC's, Unix, RDB (which I'm in class
    for as I type).  It'll probably swing at me after DECworld, May 92.
    
    DEC isn't special anymore.  It's like any other company, except for
    notes, I guess.
    
    dave
204.8VERGA::STANLEYwhat a long strange trip it's beenMon Oct 14 1991 14:331
    I vote with Andy... take the money and run.
204.9Deposit the check & splitGRANPA::TDAVISMon Oct 14 1991 15:406
    I say take the money and run also, think where are you going to get
    this chunk of change given to you in your lifetime,(unless someone
    is rich and your in the will). If you are lucky enough to be in the 
    erc for four weeks before seperation, use the time to find a job
    in Atlanta, or go into business for yourself. I think we are turning
    into just another Fortune 500 company, the magic is going.
204.10SKYLRK::TINGGive Peace a Chance!!!Mon Oct 14 1991 17:085
36 weeks pay is a lot!  If someone offers that to me, the only thing I'd
say is "See ya!!".  Good luck in whatever you decide on, Randy.

peace,
t!ng
204.11SAHQ::SWITTSIt's Summer in AtlantaTue Oct 15 1991 12:1820
    
    I appreciate all the input on this big decision.....  I have been 
    tormenting myself with this decision over the weekend and last night
    and have decided to accept a position as part of the Transportion
    group here in Atlanta.   It is part of the Service DCC.  
    I will be providing sales support to transportation accounts
    mainly Delta airlines, United and Marta (Atlanta's T).  The job
    allows me to continue on my career path towards becoming a technology
    consultant focusing on Electronic Publishing and Imaging systems.
    This job will give me a chance to work directly with customers
    on thier business needs and also make contacts I could use if I get
    the buy out again in the next round.  Working at the ACT, although I had
    customer contact, they really never got to know me or my expertise
    because I only helped demonstrate the technology.  
    
    
    Bottom line:  You haven't gotten rid of me yet !!
    
    Randy
    
204.12MSHRMS::FIELDSany idea's ?Tue Oct 15 1991 12:411
    hang in there Randy !!!!!!
204.13here and thereJENEVR::RUDNICKThu Oct 31 1991 12:514
    
    i'm glad you're still within the keyboard's reach old bud... 
    
    ben.