posted on October 22, 2001 04:02:44 PM new
I just caught a blurb on CNBC that said Merril Lynch is offering buy-outs to its ENTIRE WORKFORCE !!! What's up with that ??
posted on October 22, 2001 04:46:34 PM new
I caught the full story later. Every person at ML is beiing offerd a buy-out. They will not say how many will be laid off, but all employees have the offer on the table.
Dept heads can veto an employees option to take the buy-out, which I guess means they wouldn't ax employees that Dept heads want to stay..
It looks like a Russian Roulet deal. If you feel lucky, stay on, if you don't, take the option.
posted on October 22, 2001 04:47:22 PM new
My DH works for a very large popular bank & they do that when they are readying a layoff. Anyone can submit a request, depending on their position in the company they may/may not be chosen. Makes the layoffs easier & it CAN be a great windfall for some.
