Conference 7.286::digital

Note 3004.0 by GRANPA::DVISTICA 
    
    >Does anyone know what the TFSO package will be this go round?
    
    there really isn't any "go arounds" anymore. TFSO was incorporated into
    "ongoing normal business operations" over a year ago. that is a direct
    quote from my management and personel peoples at the time - who have
    all long since been TFSO's themselves. almost weekly i get mail or read
    about someone i knew being let go. i am not kidding. and it appears we
    are headed for yet another futile attempt to "cut/slash/purge" our way
    to profitability.

    I heard that it was not much at all-if any!  Another rumor I heard was
    that they were only going to give you what the state you are employed
    in requires...no extra for years at DEC.  
    
    I'm looking for some valid "rumors" on a retirement buy-out!  Anybody
    got any!!
    
    

    From 2714.125 (posted 14 APR 1994):
    
    >>From Palmer on Monday while he praised the Rdb Engineers at ZKO:
    
    
    >>       "The current program will be continued without change until
    >>                the end of June."

RE:                   <<< Note 3004.3 by AIMHI::BOWLES >>>

     You just HAD to go and ruin their fun, didn't you...

                                   GB

    Current package is as follows:

    o	One week to look internally from day of official notification.

    o	Four weeks from notification, employment ends.  All vacation time,
    personal holiday stuff will be paid during these four weeks.  All
    benefits end as of this date; you exercise your rights to convert
    benefits to individual contributor basis.

    o	If you select and sign the option (you have four weeks from date of
    last employment to make up your mind), a lump sum of one weeks salary for
    each year of employment will be sent a couple of weeks after the signed
    papers arrive at Digital.  The last year is calculated to the nearest
    week.  Minimum of four weeks.  Benefits get extended past your date of
    last employment for this number of weeks.

    o	If the pension is currently valued at less than $3,500, Digital
    will send a check.  If not, you must remember to apply for the pension at
    the appropriate time and keep Digital fully informed on how to reach
    you in order to get the pension when you qualify.

    o	It includes the use of an outplacement service (Very Important) and a
    Personal Performance Consultant (to replace Employee Assistance) for
    six months.  Also, the unemployment form is given to you.

    	Rich

    What is the "option" referenced in the third item?

    
    >    What is the "option" referenced in the third item?

    One has the option of taking the money and signing an "I promise
    not to sue Digital letter" or you can turn it down. It probably
    also stands for this being an "option" that Digital has for letting
    one go. As opposed to firing with cause or laying one off with nothing
    but a wave good bye.

    			Alfred

    
    On TV today one of the financial shows said Digital was planning on
    reducing headcount by 7,500.  The analyst was quoted as saying they
    would need to reduce by 20,000!!!
    
    Yikes!  

    re .5:  What do you mean that vacation etc. is paid during the first
    four weeks?  Are you paid for your accumulated vacation, etc. in lieu
    of these first four weeks or in addition?
    
    Gee, that pillow you want me to lay my head on doesn't look very soft,
    
    Greg

	Just a note of thanks! to Rich for entering the important
	details of the TFSO package.

	So, thanks Rich, and best of luck to ALL!

	Meredith

    You get paid for accrued vacation that you keep accruing until the last
    date of employment, four weeks after you are officially notified.  The
    vacation is in addition to everything else, not in lieu of anything.

    Also, your disability benefit terminates midnight of the day you are
    officially notified.

    Rich

    What about medical coverage? Is it after the four weeks or after the
    number of weeks for years of service that it stops?
    thanks,
    Ed

    re 13:

    	If you sign the option, the medical coverage is extended the number
    of weeks for years of service.

    	If you do not sign, the medical coverage ends on the last day of
    employment, which is four weeks after you are officially notified.

    	When medical coverage ends at which ever date, you have the
    opportunity to extend it by paying for the coverage at the individual
    contributor rate.  Its your responsibility to call the appropriate
    companies and get the information and make the changes that you want.

    What about the stock plan?
    
    As an example, say your 4 weeks falls across the 5/31 buy period - 
    will you continue to accumulate the stock and make the buy
    as if you were employed?   And then be able sell when you want etc.
    
    What about if it falls during your other accrued time (after the 4
    weeks)?  
    
     
    
    

    Investor Services will issue stock certificates for shares you own
    unless you tell them to sell them and send a check.

    Investor Services mails to your home information on the restrict stock
    grants being accelerated five years and what participating employee's
    choices are.  
    
    I don't know anymore on the questions you asked.

    Rich

    
    investor services will cut you a check for the amount you paid into
    to buy stock,
    
    since you wont be a dec employee december 1st.
    you cant participate.
    
    
    mike
    

    re signing a contract promissing not to sue...
    
    On the surface that sounds like it won't hold up in court.  I don't
    think you can actually sign away your rights to sue someone.  Perhaps
    agreeing that this is acceptable terms of termination implies that you
    won't have a case if you sue.  Anyone see the actual wording at the
    bottom line?
    
    Jim

    It's conjecture on my part...but I agree that the signature Digtal
    obtains will probably NOT hold up in court.
    I'd wager that a good "Philadelphia Lawyer" could succesfully argue
    that the signature was obtained "Under Duress" and therefore invalid.
    
                                                              Mark
     

    Can someone tell me what your options are in regards to your pension ?
    does digital offer a buyout dollar amount at the time of termination ?
    
    LC

    Can someone tell me about Unemployment Benefits and how the TFSO
    package might affect it?
    
    						AT

    Depends on what state your in! In N.J. I think it is like a gift and
    you can collect unemployment right away.

>     Can someone tell me about Unemployment Benefits and how the TFSO
>     package might affect it?

    Speaking from experience, the unemployment office will consider
    you ineligible for benefits for the period of time represented by
    your TFSO lump sum settlement.  After that, if you are not back
    to work, you can start collecting benefits.

    This is true of Massachusetts and New Hampshire at present.  Your
    milage may vary.

    Interestingly, there was a loophole in Massachusetts law that allowed
    someone to collect benefits even during the period represented by
    the lump sum settlement (why does this seem typical of Massachusetts
    :-} ), but they closed that loophole last year, prompted at least
    partly by the large number of DECcies that could benefit from it.

    Despite the foregoing, it is a good idea to go file with the
    unemployment office right away.  In general, you can claim benefits
    only for the current week, not previous weeks, so unclaimed weeks
    cannot be "made up" once they are past.


    dlm

    How about for people who have worked for Digital say 5 years, then left
    for less than 1 year then came back.  The 1 week for each year of
    service in ANYTHING I've ever read does NOT stipulate CONTINUOUS
    years of service.
    
    My initial information (being notified myself0 is that CONTINUOUS
    years is the basis.  I also understand from a VERY reliable source that
    a precedant has been established in that complainers have, in fact,
    received as credit their "prior years" (before leaving and rejoining).
    Once a precendence is set, seems to me that it must be adhered to
    else run the risk of discrimination.....
    
    Anyone have any firsthand (or hearsay) "ruling" on that?????
    
    Any timely information would be MOST appreciated.
    
    Dick

    For what its worth:
    
    The TFSO package is the same as last time.
    
    4 weeks
    1 week for every year of service
    
    That is all.
    
    Will be this till Dec 1994
    
    Lee

    .25> Will be this till Dec 1994
    
    That's not what I heard -- I heard that all bets are off after 1 Jul 94.