Wegmans to older workers: Go away

[\GoBillsInDallas/]

http://www.buffalonews.com/business/wegmans-offering-buyouts-to-longtime-workers-in-new-york-stores-20131008

[Just Jack]

It's not mandatory

[ExiledInIllinois]

"Wegmans is offering buyouts to full-time workers age 58 and older who have worked at the company’s stores for at least 15 years.

 

Employees who take the buyout will receive two weeks’ pay for every year on the job and continuation of health insurance for six months. Wegmans will continue to pay 85 percent of health insurance costs for six months."

 

Figure... 26 years = one year of pay buyout. They pay 85%, that isn't bad... Only 6 months though. I work for the Fed and they only pay around 60%, I pick up the other 40%

 

Maybe a shrewd move by Wegman's? So when Obamacare kicks in, they don't look like the bad guy dumping their old employees on the exchange.

[ACor58]

http://www.buffalone...stores-20131008

 

I think that the title of your post is misleading. Wegmans is in a unique situation - as a good portion of their workforce, especially in corportate, has been with the compnay for over 30 years. In order to ensure that the company is successful in the future, this is a rather generous way to entice an indiviidual worker to retire early to create other opportunities for younger workers (yes I know, younger and less expensive) to begin filling those roles.

[ExiledInIllinois]

 

 

I think that the title of your post is misleading.

 

LoL

 

Who's shocked that it is misleading? LoL

 

Anyway, Wegman's has always been the poster child for the anti/non-union crowd. I am a little bit shocked that the OP is not commending them for such a deal. Sounds generous. Heck, I got 20+ years w/my employer, which would almost be a year's wages. If they bought me out for that much, I may even take it... But I am only 45. :-(

Edited October 9, 2013 by ExiledInIllinois

[keepthefaith]

I think that the title of your post is misleading. Wegmans is in a unique situation - as a good portion of their workforce, especially in corportate, has been with the compnay for over 30 years. In order to ensure that the company is successful in the future, this is a rather generous way to entice an indiviidual worker to retire early to create other opportunities for younger workers (yes I know, younger and less expensive) to begin filling those roles.

 

Or it's something else. Our health ins rates were always given to us at a per employee cost (the average cost per employee). The only differentiator was single coverage or family coverage. We never we able to see the cost for each employee or each family based on age or risk. Now through beloved Obamacare, we are given the individual rates and wouldn't ya know that the older folks cost 3 times what the younger ones cost. Plus the increases across the board are huge. So all of the sudden as an employer that pays a large part of the premiums for employees, we have a real incentive to employ younger people.

[dayman]

That buy out would not influence me one bit unless I was already considering retiring in the next 2 years.