Merry Christmas...

[NobodySpecific]

So I was informed today that my company (which is a subsidiary of our parent company) will be dissolved on December 31st, and we are all terminated on that date (there are 32? of us). There are currently openings at a new subsidiary, however, and we can all reapply to that company next week (deadline is the 11th to have resume and skill set evaluations submitted by. Once they make their decision, we have 3 days to decide what to do (if the decision is an offer, otherwise hit the road). Whatever happens, I will lose all accrued vacation (though be paid for it, so yay extra month's salary) and we will receive 2 weeks severance.

If this works out well, I will be ecstatic. I have 4.5 weeks of accrued vacation, so if I can get 6.5 weeks of salary and still have a job, then I'm all set. I have the potential (and it seems very likely at this point) to lose a fairly large bonus that was supposed to be paid out next August though, so I'm not very happy about that.

My primary concern is my job right now, because if I lose this job I will be moving. I have no desire to work for IBM again, and there aren't a whole lot of Electrical Engineering jobs up here. I'm hoping it doesn't come to that, but it's a reality I have to be prepared for.

I don't really have a point to saying this other than to vent. Just this morning we had a business plan meeting where they showed we were under budget and we met a schedule nobody thought we could meet...followed this afternoon by "you're being terminated". There are no answers right now as to the likelihood of being rehired. Afterall, this could simply be a formality. On the other hand, I could be joining the long lines at the unemployment office right after my company successfully survived one of the worst years in the history of the DRAM market. Anybody here a EE with job connections?

[Degsy]

Wirelessly posted (BlackBerry8330/4.5.0.77 Profile/MIDP-2.0 Configuration/CLDC-1.1 VendorID/105)

I worked for big blue as an engineer for 12 years. Stiull unemployed right now. Good luck with the job thing on 31st

[Trouble]

Wow.

Sorry.

[Vulcan1500]

That sucks. I was laid off in June for two months, then brought back on contract. I'm currently under contract extension till New Years Eve. So I'll hopefully find out soon that I've got a permanent position, since my Cobra is about to get VERY expensive. Good luck to you!

[OreoGaborio]

Damn, that's heavy news. Hope it all works out for ya, though.

Good luck

[Doc]

I feel your pain.

I'll keep an eye out.

[jcbell1007]

i hear australia's nice. just ask John.



just trying lighten the mood a bit. hope everything works out for you.

[Slyder]

That was my Christmas last year. Merry x-mas, here's your lay off paper work, 16 weeks of severance starts in Jan. and you're effective termination date is 12/31 but you can walk out the door now and we'll pay you like normal (I left 12/15/08).

I had the maximum accrued vacation allowance of 25 days and I was paid for them as well. That was very nice, but that made unemployment hell. I got denied unemployment benefits for 2 months because of that. If only I knew that was going to happen, I wouldn't have paid off debts with that money.

About an hour ago I filed for federal extended benefits. Sounds like you're doing a lot better than I am. Who cares about losing out on a bonus....trust me.

Hope the application to the new subsidiary works out in your favor

[AHAMAYs2]

Good luck man, I'll keep my ears open just in case. You should come to Bill's on the 11th to take your mind off of it, if only for an evening.

[NobodySpecific]

Good luck man, I'll keep my ears open just in case. You should come to Bill's on the 11th to take your mind off of it, if only for an evening.

Oh don't you worry, I'll be there still.

I'm fairly confident that this will work out well, if only because of the ridiculously short time frame that they are working with. Plus, a VP in Taiwan is going to be in charge of the hiring, and he doesn't really know any of us. A major shake-up in the staff would definitely cause a huge drop in moral, and after working so well for this whole year I don't see that happening. I still worry though that with only 3.5 years in the industry that I am one of the less valuable employees and will be trimmed. I also was already assigned a project for next year, so I hope that works to my advantage.

The hardest part is not knowing if I will have a job or not on 01/01/10, because that's not a lot of time to get my resume out there (and with only 2 weeks of severance I will be in even more of a rush to find something new). Hell, I don't even know if I can even entertain the idea of leaving right now because I have a 1 year commitment (started in August) so I can't leave the company or I owe them ~$13,000.

[thomas_quinn]

Hi keith. Good luck I know the feeling of not knowing if you will loose your job the machine shop I work for just started getting busy again and hired new people.

[SRTie4k]

Sorry to hear man, that's hard news to take at the most hectic point in the year.

Is all of IBM in VT being dissolved, or are you a subsidiary of IBM? I know a LOT of people that work at IBM, I can't imagine all of them being jobless starting on New Years.

[NobodySpecific]

Sorry to hear man, that's hard news to take at the most hectic point in the year.

Is all of IBM in VT being dissolved, or are you a subsidiary of IBM? I know a LOT of people that work at IBM, I can't imagine all of them being jobless starting on New Years.

No sorry, I used to work for IBM, and they are the only other major employer of EEs in the area (there are a few small firms, but I don't believe any of them are hiring). I would rather not mention my employers name on here.

[KillBill]

[markbvt]

Keith, like I mentioned by email, I expect the re-application process is probably just a formality. Hopefully in a few weeks' time this will all be settled and you'll simply be receiving your paycheck from a different subsidiary.

Chances are the parent company is just doing this for some murky accounting or legal reason, and terminating employees and rehiring them under a different subsidiary is simply part of the process.

--mark

[Stegosaurous]

Sorry to hear about that man, what shitty news at this time of the year. But keep your head up. It'll work out.

[Degsy]

Wirelessly posted (BlackBerry8330/4.5.0.77 Profile/MIDP-2.0 Configuration/CLDC-1.1 VendorID/105)

If its a 401K loan you borrowed, that goes bye-bye if you get laid off so don't sweat it.

[scottfromboston]

Hell, I don't even know if I can even entertain the idea of leaving right now because I have a 1 year commitment (started in August) so I can't leave the company or I owe them ~$13,000.

What company? If they don't exist...

[Doc]

Hi keith. Good luck I know the feeling of not knowing if you will loose your job the machine shop I work for just started getting busy again and hired new people.

What company? If they don't exist...

Who the hell let the peanut gallery in here?

(Who are these guys?)

[NobodySpecific]

Who the hell let the peanut gallery in here?

(Who are these guys?)

People I know from back in MA from high school, it's all good Doc.

The money I would owe has nothing to do with a loan, it has to do with a bonus that was paid on the condition that I remain with the company for 1 year beyond my assignment in Idaho. I've received 64% of it and would have to return it all if I quit.

[Doc]

People I know from back in MA from high school, it's all good Doc.

Alright then! I expect to see them at bike night!

[NobodySpecific]

Alright then! I expect to see them at bike night!

They live in MA, so don't hold your breath.

[AHAMAYs2]

They live in MA, so don't hold your breath.

Hey i ride from Johnson every week......

[NobodySpecific]

Well my resume has been submitted. This is actually the 3rd time I've submitted my resume to this company. Once when I first applied, again when I applied for the spot in Boise, and now again for the spot that I'm already occupying. I hope this is a fast process (for either decision) so I can either start implementing plan B or breathe a big sigh of relief.

[markbvt]

Fingers crossed for you, Keith.

--mark