People need to see the writing on the wall. BNYM was a great employer a long time ago but now it has turned into one of the worst. It's no longer a matter of if you'll be laid of but when. Don't let something so obvious surprise you. After all, everybody knows that it is always easier to find a new job when you already have one.
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BNY pension, cash balance plus, etc, etc.
Likely have $100,000 in what pension?
Severance (SUB) and unemployment income doesn't have to last for ever. You only need income for the rest of your life. For most of us downsized that would be about 20 to 25 years. And we likely have $100,000 in our pension and $1,000,000 in our 401(k) and own our homes and cars.
Severance doesn’t last forever nor does unemployment insurance. Finding a job or any job will take you a lot longer than 8 months especially if you’ve been worn down into a nub by your former bosses. You might need 6 months just to mentally recuperate so good luck on your 2 month job search! If you are employed you should be searching actively for work, if unemployed you should be searching for work even more urgently.
Why would I want to find a job? BK is paying me for another 8 months and NYS is paying me $504 per weeks and the feds are kicking in another $300.
Do not and I mean do NOT wait for some sort of package. They can cut or limit that anytime they want too.