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If your compnay was laying you off in the end of June...

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mia1181

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...but offered 15k severence, would you stay?

Knew it would happen.... DH is getting laid off! If he leaves before then, he gets nothing. We are probably going to move somewhere with a lower cost of living anyway, but I don't know if we should wait until June. DH says the 15k will probably be taxed 50% and if we stay here we will be paying higher rent anyway so it might not be worth it. I'm actaully looking forward to a move but I really don't know when we should go.

ETA- UGH sorry about the misspelled title!
 

TravelingGal

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Date: 2/24/2009 11:33:24 PM
Author:mia1181
...but offered 15k severence, would you stay?

Knew it would happen.... DH is getting laid off! If he leaves before then, he gets nothing. We are probably going to move somewhere with a lower cost of living anyway, but I don''t know if we should wait until June. DH says the 15k will probably be taxed 50% and if we stay here we will be paying higher rent anyway so it might not be worth it. I''m actaully looking forward to a move but I really don''t know when we should go.

ETA- UGH sorry about the misspelled title!
What about unemployment?

In California, you have to be laid off in order to get it. You quit, most likely you won''t. I would add it all up, but if I could not get unemployment benefits, yes, I would stay. That means he''d get the lump sum severance, and his benefits.

Now, if he knows he can find a job before then, it might be worth it to be unemployed for a month or so.
 

choro72

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FI is staying because we need the benefits as long as possible, and we have no reason to throw away the severance. For your case, instead of guessing that it may not be worth it just calculate it out. Even so, I wouldn''t leave unless I knew I had a job out there.
 
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When BF was laid off last year (and the year before that, poor guy) his pay out got taxed 50%

It''s COMPLETE CRAP. So, if the $7-8k would be worth it until you move, not a bad idea... but if the thought of staying there is depressing, I''d move on.

I don''t know though.. it''s tough to say. I''m sorry!
 

Gypsy

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Oh honey, I'm sorry. So very sorry. ((HUGS)) to you and Hubby.

Unemployment is 450ish a week max. And if you quit, nada. I'd do the math depending on what he would qualify for, and then consider gas, tolls etc. I would also consider your benefits. Cobra is expensive.

June is a couple months away. I'd start interviewing and agressively look for a job. Honestly everyone I know who has gotten laid off (with the exception on an Ex-NASA engineer) has been complaining about the fact that there are SO many other applicants for position that companies have thier pick of whoever or whatever they want. It's taking 4 to 5 times harder to find a job than a year ago. And with Microsoft doing what it's doing (anouncing rolling layoffs over 18 months, and then the severance fiasco) there are a FLOOD of microsoft employees (past and present) flooding the market with their applications, which frankly is making things worse in all industries you can think of.

I would probably stay and see if I can find another job, then leave, forget the severance and leave if I get a job, take the severance if he doesn't.
 

violet02

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Hey! I''m so sorry to read this! I hate seeing so many people lose their jobs right now and people that I know! I''m thinking positive thoughts for you guys!

Ditto to what everyone''s already said. If it were me (and it might be!) I''d look for work and wait to get laid off with the hope that I''d find another job by then. If that''s the case then your DH will get paid out 15k in bonus money while starting work at a new company. If not, then he''ll get 15k plus unemployment while looking for a new job.

Definitely add the numbers up and see what works best for you.
 

tlh

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I am soo sorry to hear this.

This exact situation happened to my BIL. He stayed, and looked all the while. Well NOTHING came up while he was looking, and he had a broad search. He was notified of his Christmas layoff (the friday before) around the first week of October. He said he would stay, might as well, right? But he continued looking.

It is the end of FEB and he still has no job leads in sight. The severance package has really helped him. PLUS he then MOVED across the country where it would be cheaper and maybe better to get a job. He is filing for and collected unemployment from the state he paid taxes into (the state he left) and is still continuing to look.

So I would stay, and look. If he finds something, LEAVE. The way this economy is going though, there are no gaurantees. Then I would have him IMMEDIATELY file for unemployment, even though it isn't a lot of money... any little bit helps. You can move to where it is cheaper, and still file and collect.

ETA: and yes, they taxed his severance like 50% or more... just like a bonus. SUCKS!
Best wishes to you both. I hope he hears something positive soon!
 

Italiahaircolor

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Oh shoot Mia, I am so sorry!

Honestly, I would probably stay at the job. Although the money will be taxed...and he''ll only walk away with around $7,500...that money can go very far if you''re both unemployed and moving.

Yes, in the meantime you''ll be paying a higher rent, but he''s also still bringing in a paycheck. And if he quits, chances are he''ll but ineligible for unemployment.

((big hugs)) best wishes for a bright future post-this!
 

KimberlyH

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I worked in HR for several years and one of the mantras was it is always less difficult to find a job when one has a job. The recent changes in our economy may have altered this philosophy, but the thought was pretty commonly held.

I would figure out how much he will make between now and June if he stays and compare that to the severance, post tax, and decide from there, while also weighing in the move/job search, etc. If memory serves you''re a nanny, so you''ll also need to consider your prospects if you move.

I am so sorry for you and your husband.
 

mia1181

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Thanks everyone for your input. I really appreciate talking through things with my PS buddies!

Well I guess the situation is that we are wanting to move anyway. And that complicates things a bit. DH doesn''t think he will get many offers for interviews when he isn''t already live in the area he is applying. He doesn''t think many companies will want to pay to fly him out for interviews, or they won''t even consider his resume because he isn''t in the area. I have told him that it doesn''t hurt to try and he is going to at least send some resumes out and see what happens. He likes to move first and then apply
. Crazy, I know, but that is how we ended up here in the first place.

I know the economy is different now than it was 4-5 years ago (when DH first drove across the country without a job offer first). But if you look on the bright side, we have no children and no debt and we are willing to work wherever to pay the few bills we do have. We only have two ~$300 car payments and two small student loan payments (which I believe can be reduced if we were to make less money). DH would take a temp job or even wait tables if he had to so it isn''t like he wouldn''t be making any money in the meantime. We also do have a lot of money in savings if we really needed to use it (yay for eloping!), but I guess what I am saying is that we won''t go bankrupt. I know some of you are probably cringing at reading this, but it wasn''t that long ago that we were living this same lifestyle (while I was still in college) and it just doesn''t feel like that big of a deal.

So what do I get out of this? I get to move closer to my family and even though in many ways it will be a step back. We''ll be closer to being able to start a family because we will be more able to own a home. If we stay here we will NEVER be able to afford a home, it just won''t happen.

Now whether or not to stay until June... DH says we will talk about it tonight, but I think we will stay. It just makes more sense when you factor in Unemployment (thanks tlh, DH and I thought he wouldn''t be able to collect UE from another state) and health insurance (although neither of us has any health issues, but in case I got pregnant or something). Thanks Gypsy I actually thought COBRA was free! (shows how much I know!) I''ll have to read up on all of this. Kimberly H- yes you remember correctly I am a nanny, I can also teach but I am actually thinking of just starting my Masters since my subject (History) is low in demand so I''ll either go for Special Ed. or Reading Specialist. I''ll have to see how going back to school would affect things. If they go by our salary last year, I don''t know if I''ll qualify for any loans. So I''ll have to look into that.

Sorry I didn''t get a chance to respond to everyone. It has been a crazy day of calling everyone to tell them the news.
 

Gypsy

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Hi Mia,

Cobra is offered if you leave a company, whether on your own or not. But someone has to pay for it, and the choices are you (if you quit or if you are fired, or laid off without the company agreeing to pay it for a certain period of time) or your company (and they won''t pay it for long). But you do get the RIGHT for free, and you can pay for it for up to 18 months I believe, but it''s not indefinite and it is pricey.

Best of luck honey and keep us updated, please. I''ll be thinking of you.
 

mia1181

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Hey Gypsy- I know nothing about COBRA and I thought it was just like the health insurance version of unemployment, thanks for the info!

And how are you doing these days? I hope well... I''ve been meaning to check up on you via email but I have been so crazy busy right now. I haven''t been lurking much here either so I have no idea how John is doing with his job search. I hope you guys are doing well.
 

KimberlyH

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Mia, as a teacher (without a permanent job) I can tell you Special Ed is the place to be. The district I work in is pulling behavioral aides who are in school to become teachers from their positions, applying for emergency credentials for them and giving them their own rooms. I wish I had known that when I went back to school (of course it wouldn''t have mattered if I didn''t love working in SPED, but I do). It sounds like you guys know what you want. Let us know what happens, and know we''re thinking of you!
 

Clairitek

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Mia- I agree with the others who suggested to add up what you could walk away with in each scenario and go from there. Without doing any math my gut instinct says to wait it out and try to stay on until June for the severance while aggressively looking for another job. I would encourage your DH to apply to as many jobs as he can even though is sounds like it might not be that convenient. If he can get some interviews maybe he can schedule them all in the same week and rationalize paying for one plane ticket to head out there. I do realize that this might require him to take some time off from his current job though.

I am not a teacher or anything but I have heard from my friends who do that for a living that special ed is the place to be. My friend Christine is a special needs early childhood ed teacher and she has gotten 4-5 job offers emailed to her in the last few weeks and this is only her first year out of school. It seems that they are desperate for people in her area.

Best of luck to you! I am a firm believer in "good things happen to good people" and you seem pretty darn nice! I am hoping that we will hear some goods news from you and your DH in the coming weeks.
 

MichelleCarmen

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Date: 2/25/2009 5:55:27 PM
Author: mia1181I

DH would take a temp job or even wait tables if he had to so it isn''t like he wouldn''t be making any money in the meantime.
Staying at his job makes the best sense. Theoretically, your dh could get a job through a temp agency or waiting tables, but in reality, even those jobs have loads of competition! There was a 7-11 in California that had over 700 applications and a *meter reader* (like the ones that read the meters for utilities companies) in a city in WA state that had 1,400 applications! Temp agencies are the first place people go when looking for a job.
 

mia1181

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Kimberly H- I know! I wish I had done even a little bit of research of research before choosing a major in college. I knew I wanted to teach and I had an interest in Social Studies, so I went with that. I had no idea that HS History teachers are so low in demand. I also think I would have liked to work with younger kids, but I really enjoy all ages. So when I got out of college I became a nanny. I make good money and I get to work with younger kids. But my charge has special needs and I think I have a real passion for working in Special Education. It is just so challenging, which makes it so rewarding.

Ultimately it would be cool to be a Pediatric OT/PT but I am just not interested in starting over in college ( I think it would take 6 more years), so Special Ed. would really work for me because I am already halfway there.

I would also enjoy being a Reading Specialist because I had to volunteer as a reading tutor as part of my graduation requirements for college and loved it. But it seems I am more headed for Special Education.

Oh one question for you: Do you know if Special Ed. teachers ever have opportunities to teach part-time like Reading Specialists do? I am just thinking ahead for when I have children and that is one thing I like about becoming a RS.
 

mia1181

Brilliant_Rock
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Date: 2/26/2009 9:59:40 AM
Author: Clairitek
Mia- I agree with the others who suggested to add up what you could walk away with in each scenario and go from there. Without doing any math my gut instinct says to wait it out and try to stay on until June for the severance while aggressively looking for another job. I would encourage your DH to apply to as many jobs as he can even though is sounds like it might not be that convenient. If he can get some interviews maybe he can schedule them all in the same week and rationalize paying for one plane ticket to head out there. I do realize that this might require him to take some time off from his current job though.

I am not a teacher or anything but I have heard from my friends who do that for a living that special ed is the place to be. My friend Christine is a special needs early childhood ed teacher and she has gotten 4-5 job offers emailed to her in the last few weeks and this is only her first year out of school. It seems that they are desperate for people in her area.

Best of luck to you! I am a firm believer in ''good things happen to good people'' and you seem pretty darn nice! I am hoping that we will hear some goods news from you and your DH in the coming weeks.
Aw you''re so sweet!


I think you are right, and that is pretty much our plan thus far. I think DH is feeling a bit slighted by his company and kind of wants to be like "screw you!" He''s was prepared for a layoff but he feels miserable showing up to work for the next 4 months knowing he is laid off. He feels like they are dangling the money in front of him and doesn''t want to be a "sell out." But ya know, it''s probably worth it to just stay and get the payout, as well as unemployment. He is coming around to the idea of staying too. I think it will just take him a little while.

In other news, MY BOSS WON''T LET ME QUIT!

I have been laughing all day at this! Yesterday when I told her we would be moving there was really no reaction. I was worried, either she was too angry with me, or she didn''t care at all! So I finally emailed her yesterday asking if she was mad at me, and explaining why I want to move so badly. Her response was "Oh why? Did I seem angry? I just figured you''ll just move in with us for a while after DH moves, and you''ll be here at least until the end of the year."
So she knows that I really care about the children and would stay until they find I suitable replacement. But that shouldn''t take that long! This is crazy! I''ll probably do it too!

It''s like trying to break up with someone and they won''t let you! It''s like saying "It''s over!" and they are like "I disagree!" Craziness!
So now I have to figure that out....
 

mia1181

Brilliant_Rock
Joined
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Date: 2/26/2009 11:16:49 AM
Author: MC

Date: 2/25/2009 5:55:27 PM
Author: mia1181I

DH would take a temp job or even wait tables if he had to so it isn''t like he wouldn''t be making any money in the meantime.
Staying at his job makes the best sense. Theoretically, your dh could get a job through a temp agency or waiting tables, but in reality, even those jobs have loads of competition! There was a 7-11 in California that had over 700 applications and a *meter reader* (like the ones that read the meters for utilities companies) in a city in WA state that had 1,400 applications! Temp agencies are the first place people go when looking for a job.
Wow at a 7-11? That''s crazy! I should also add that DH is a Scientist for Pharmaceutical companies, so luckily he''s only be competing with people qualified to do what he does. There are also Temp. Chemist/Research positions too. Of course I do realize that is assuming the Pharma companies are even hiring. But DH is optimistic about it, so hopefully he will find something before June. That would make life much easier.

Also I am not saying Pharma companies are not being hit by the recession too, but at least the major reason DH''s company is having trouble is because of some really bad luck with a couple of their drugs. DH thinks the major reason they are laying off is to look more appealing to bigger drug companies that would want to buy them out. So hopefully that means ALL of Pharma is not hiring. I don''t know, we''ll see what kind of feedback he gets when he starts sending out resumes.
 

Hello Lover

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Yes I probably would as long as I was still collecting my paychecks through my last day PLUS my 15K severence.
 
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