Thread regarding Nokia Corp. layoffs

@OP According to the EEOC, the employer must give in writing as part of the written notice (day 1 of the 45 day period) to each employee the job titles and ages of all individuals who are eligible or who were selected for the program (the use of age bands broader than one year, such as "age 40-50" does not satisfy this requirement) and the ages of all individuals in the same job classifications or organizational unit who are not eligible or who were not selected. https://www.eeoc.gov/laws/guidance/qa-understanding-waivers-discrimination-claims-employee-severance-agreements Item 12 EEOC says this should be done on a site basis.

@OP Use Google in AI Mode and type this:
" Have employees sued corporations that offered volunteer package to some and not others and used OWBPA to protect them? Give an example where a company has offered a package to those with the company for 30 plus years and only offered it certain departments and certain employees within the department with 30+ years of employment with that company. "

If a company offers a package to employees with 30+ years of service in Department A, but selectively hand-picks some 30-year veterans and excludes others in that same department, the excluded employees can use the OWBPA data to sue. They can look at the mandatory age list, prove that younger or differently-aged workers with 30 years of experience were favored, and sue for disparate treatment or arbitrary age discrimination under the ADEA.
Furthermore, if the company failed to provide this exact demographic list to the employees who did sign, those employees can keep their severance checks and sue the company anyway, because the waiver is legally void.

@1xr If they are using pension money to pay, or even if not.. The USA Older Workers Benefit Protection Act (OWBPA) amended the ADEA in 1990 to add strict rules and safeguards for older workers accepting voluntary retirement or exit incentives, particularly when waiving their right to sue. If an employer offers a voluntary early retirement package in exchange for a waiver of age discrimination claims, they must provide employees with specific minimum timeframes to review the agreement: 45 days if the package is offered to a group or class of employees.Revocation Period: Employees have 7 days after signing the agreement to revoke their decision.Disclosures: When offering early retirement to a group, the employer must provide a written disclosure detailing the eligibility factors, time limits, and the job titles and ages of all employees eligible or selected for the program.

@21z It is a nice problem to have, and if you are married maybe you go into 24% bracket vs 22 %or so? 32% bracket starts at $512K fir married couples.

@190 no

@21z Can the bonus be deferred? When I was FMPed from AT&T, we could defer payout of the bonus for up to a year.

@1xr You'll end up paying more taxes at a higher rate since you'll be getting paid for a total of 17 months (Jan'26 to July'26 which is 7 months you were employed + 10 months lump sum) + $25,000 lump sum.

Do NOT take the package. Wait for the company to RIF you and others over 50+, and then gather together and sue the company for over $1 billion (since they are probably offering at least a 1000+ out of 7000 USA employees this offer and will most likely RIF them before the year is over). If those 50+ in age should team up and collaborate together, and hire an excellent law firm, than instead of the 10 month + $25K, you can get you a lot lot more. Besides, if you are RIFed, you're guaranteed 9 weeks notice pay + 20 weeks severance (for those with 13+ years with the company) + CAP (cash account plan) until you're off Nokia's payroll + 6 month unemployment + LHH Career Coaching service.
Right now the company will take out $150 Million (assume $150K average salary per year which means $120K for 10 months + 25K = $145K per employee *1000 employees offered = $145 Million (round off to $150Million) from your pension fund to pay for the package and not from the companies pockets. Sue the company for $1 Billion and it would have to come out of the cash they are holding instead of your pension fund amount which would remain safe for your future.

@1xh and you won't need to pay 102% for Cobra healthcare until after the month end of 9 week notifications period. Do the math for when you get RIFed either in August, Sept, Oct, Nov, or Dec. And on top of that, maybe the lawsuit money.

@OP Don't take the package. Wait for the company to RIF you and others over 50+, and then gather together and sue the company for over $1 billion (since they are probably offering at least a 1000+ out of 7000 USA employees this offer and will most likely RIF them before the year is over). If those 50+ in age should team up and collaborate together, and hire an excellent law firm, than instead of the 10 month + $25K, you can get you a lot lot more. Besides, if you are RIFed, you're guaranteed 9 weeks notice pay + 20 weeks severance (for those with 13+ years with the company) + CAP (cash account plan) until you're off Nokia's payroll + 6 month unemployment + LHH Career Coaching service.
Right now the company will take out $150 Million (assume $150K average salary per year which means $120K for 10 months + 25K = $145K per employee *1000 employees offered = $145 Million (round off to $150Million) from your pension fund to pay for the package and not from the companies pockets. Sue the company for $1 Billion and it would have to come out of the cash they are holding instead of your pension fund amount which would remain safe for your future.

@mg If you were employed in USA with Nokia itself 30 years ago, then yes. Else, if you were employed in USA with AT&T that became Lucent Technologies that became Alcatel-Lucent which is now Nokia, it's the accumulation of all those years. Those from Motorola Wireless Network as well when Nokia brought them in April 2011.

@10r any medical benefits offered in the voluntary leave?

@mg I’m legacy ATT/Lucent with 34 years and received the notice which I'm planning to accept.

7/1 is official offer date
7/16 is last day to accept
8/1 is last day

Is that 30 years experience in NOKIA itself?

@dx From USA people who received the offer.

@dx Yesterdays (June 11) email for USA only employees of Nokia of America with 30+ years of service. Did people from Infinera USA also get this offer?

@OP from where did u hear this?

Is that in the US? Here in Canada, 30 years service, plus being over 50 would easily be 24 months of severance under common law AND you'd get the bonus for those 2 years with a half decent lawyer

What's the package? If you don't take the package, are you more likely to be on the next RIF list?