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Discussion Starter #1
I was informed yesterday my job will be outsourced by 3rd party. I will be layed off at the latest in oct 2011 but will probably happen sooner. This happened after pfizer bought out wyeth last year. This will affect 220 people, so please pray for all of us as we go through this loss. i always say when God closes one door he opens another. thanks for letting me vent tncruzer1300
 

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Tough break buddy. Hang in there, been through many tough times myself but always bounce back. You will too.
 

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Discussion Starter #5
yea, but we do get a severance pkg of 26 weeks pay plus unemployment. I also pastor a church and my wife has a good job. some of my co-workers are single parents or both husband and wife work together. I've worked at this job for 12 yrs and wanted to retire there but it will all work out. tncruzer1300
 

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Very sorry, cruzer. Thats not the kind of news anyone wants to get before Christmas, or at any time. Hopefully you will find decent work before you need it.
:choppersm Bry
 

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Discussion Starter #8
yea me to, its one of those things you know happens but never has happened to me. times are hard but i will find something. my daughter finishes high school and starts college next year and i hope we can give her the education she deserves. tncruzer1300
 

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Throttle Twisters m/c
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it'll workout, it happen to my wife were ok, thanks to GOD!! HE doesn't give you something and take it away, if HE gave it to you, you will always have it! GOD IS GOOOOD!!! what? ALLLL the time!!!
 

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Speaking from the voice of experience don,t just sit around until it happens.
You need to get advice from a investment or tax consultant on how to keep the IRS from taking all your severance pay and vacation pay in the year it takes place, should you receive it all as a lump sum which is likely what will happen.

Also inquire about rolling over your 401K.

 

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Reeling Jackwagon
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Like Mr. Bill said, get your ducks in a row and get your resume polished up. I wouldn't be afraid of bailing out early if the right offer came along.
 

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Discussion Starter #12
the severance pay will be in weekly increments same as my weekly check and i also will get to keep my insurance as long as the package lasts
 

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Reeling Jackwagon
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If that's the case, take a 6 month hiatus or go back to school. Get every penny you have earned over the last twelve years.

Also, it sounds like you have time to start putting some money away or paying off some annoying debts before your job ends. We were fortunate enough to take out a line of credit on the house and paid off all of our bills about a year before I lost my job and in hindsight, it was our salvation. That is something else to think about before the bank knows you're out of work. It's nice to have easy access to all that money in case of an emergency.

Rest assured that it is not the end of the world.
 

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Who did you work for if you don't mind my asking? And what do you do? I'm curious bc I'm an IT Scientific Recruiter. Let me know if you want me to shoot your resume around, but most stuff out these days are contracts.
 

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I can relate to the husband/wife both working with the same company, in the same job....that is what my wife and I do....

it is scary that things can change overnight like this....
 

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Discussion Starter #18
thanks everyone, the company was wyeth and pfizer bought it. the company combined is worth about 70 to 80 billion a year. and yes i do have an in with God through Jesus Christ and He will not forsake me. tncruzer1300
 

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You sound like you have all your stuff in one bucket, you are going to be just fine. Wishing you my best.
 
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