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Message: <blockquote data-quote="Ahall" data-source="post: 4243935" data-attributes="member: 49426">STLproA2's comments about managing and taking care of yourself are quite true.In the buyout I went through had a staggered shut down, so folks were let go in waves.  Most of the staff started looking for work, and like me, some negotiated start dates to correspond with the companies planned severance date.  The ones in the later waves who were not ready to retire, recognized that the local job market could absorb a limited number of people and that they better find work while the positions were available rather than wait for a severance package.  Some key people were offered incentives to stay to the bitter end.The folks who looked after themselves and left on their schedule without a severance package were an issue management did not plan for.  People had negotiated start dates for new positions, were told when their last day was and made commitments based on the promised severance package.  Then others left and they became the critical link that the company needed, and their termination date was shifted.  They were left with the choice of staying on longer or leaving without a week's pay for every year of service (with a 20 year cap), buy out of vacation and sick leave, and paying for their own health insurance until the new jobs insurance kicked in.  I don't know what your rights are in that situation, but if you suddenly become important, understand they probably need you more than you need them and you have some negotiating power.   If you are offered an incentive to stay to the end, you are also in one of those "we need you more than you need us" positions.  Negotiate for a much bigger severance package, as your final day wont be fixed until a few days before it happens, and you will be entering a job market that just got flooded, so you will need it.  Get your payment up front because once the plant closes, the agreement may be with a corporation that does not exist and has no assets.Remember, the company is dying, and has little if anything to lose.Shutdowns are unpleasant affairs and may attract unpleasant people to do the work.Don't make commitments based on a promised severance package until the promise is fulfilled.You don't have the money until the checks have cleared the bank.Be prepared for delays on receiving a promised payment.Severance agreements often include insurance benefits.  Be sure you know how to independently verify they are paying for the policy's for the agreed timeframe after you leave.  It's an easy way to cut a cost, and most folks won't have a claim and catch it.  And on that note also take advantage of your annual physical, dental cleanings, and optometrist appointments well before you get let go.  If something unexpected kicks up, it may change HR's ability to terminate you.</blockquote>

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