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Wednesday, August 6, 2008

Hump Day

I cannot believe it's been almost a week since I blogged -- that has to be some sort of new record. Not surprisingly, nearly all of the talk around our house lately has been to take or not to take the buyout. We've made no decision, but have discussed several options continuously. If Chris was 20 years older or 10 years younger, the choice would be simple. He would take it in a heartbeat. If we had no children, it would be the same choice. However, three little mouths to feed makes the decision much more difficult. It's certainly an attractive package. I feel a bit odd discussing the financial aspects of it on here, but it's public information and anyone could Google it.

Right now, we're considering him taking the buyout and opting to be released during fiscal year 2009. He could be released at any point (with two weeks notice) from April '09 to March '10. When he's released he would get a $100,000 severance, $5300 (roughly) in education reimbursement, a year of insurance coverage, and a $5,000 voucher to purchase a new Nissan or Infinity vehicle OR a $10,000 voucher to purchase a current employee lease vehicle. By opting to continue working for a year, that gives me time to find a full time job so we have an income when he's done working. We would also lease a car now, so we can take advantage of the $10,000 because we'll have to purchase a vehicle when he's done. (We have two cars, but "Woody" is more of a, shall we say, project car than a very reliable commuting car.) So if he leaves, what will he do next? Well, that's a good question. He thinks he'd like to go to school, and I think that's a great idea. While there's undoubtedly a lot of uncertainty with him leaving his job and going to school, we're very excited about to opportunities that will bring for him and for our family. And, quite frankly, we think there's a significant amount of uncertainty in him remaining at Nissan. While they've not done a true layoff in the 25 years they've been here, that doesn't mean it will never happen.

So, as it stands now, I'm looking for a full time job and we're exploring our options. We really want to make a well thought out decision, so it's pretty much ALL I think about!!

What would you do if your family was in this position? I'm truly curious what you think your decision would be, not just "I don't know"!

5 comments:

Julie said...

I think our decision would be for Darrell to stay where he is...but that is mainly because I would be too chicken to do anything else. That being said, it could come back to bite us in the butt too. I think what you are planning to do makes a lot of sense.

nicole said...

I think we would decide to leave Joe where he is. However, our situation is different because I currently am working and could very easily adjust my hours to make what we need to cover bills. I think your plan is very well thougth out and make very good sense.

Briana said...

Hmmm, I'm not sure what we would do. It's certainly an attractive package and it does leave you a great deal of time to find a job yourself. Plus he'd be able to return to school as well. Seems win-win. But change is always hard. it's coming to that decision though that is hardest. once it's made, the feeling is usually great! Good luck making the decision!

Nicole said...

Hi Kim. Wow, tough stuff. I think if I were you, I would look for full-time jobs and see what's out there. If you find something you like for a decent salary that you all can live on, then I would opt for the buy out. (Not sure if you have enough time to do that, but at least you could get a sense of what kind of jobs are available for you in the area). It's exciting but scary at the same time... do you think you could leave the kids and go back to work? It is nice that Chris would be with them instead of having to use daycare full time. Good luck with the decision.

linette said...

Well, I just took the buyout!! Yea!
I've been at Nissan for 18 years, but have been out on disability for the past three years. I was not able to go back due to surgeries and injuries caused by Nissan. I'm currently in school and am so HAPPY to be out of there.
I always thought my job offered security, but I was wrong. They can get rid of you anytime they want. I am a single mom whose 43 and was lost at first, but I think it is the best thing to do. There is no security at Nissan, especially now!!