Decisions, Decisions! Deal or NO Deal?

Years ago, if you were hired into GM, it was thought that you were "set" for life. Not "set" as in rich but just taken care of. You had good pay, benefits and job security.

Fast forward to today, 2009, and you now know the real story.

Just over nine years ago, my husbands career began with GM. We adopted the same thought process as many before us and even many after us had. Worries were going to be limited with him working there. Looking back, GM has provided our family with benefits along the way. However the only perks we are getting now are when our ears perk up to listen in on the various bits and pieces of news that we hear through the grapevine.

When the hubs was laid off in April 09, he was told that it was going to be an extended layoff, one that could potentially result in a cease of his benefits 13 months later. Fast forward to a mere eight weeks later...

"Return to work on Monday."

What?

Now before I start getting the pep talks of "Just be grateful that he is returning to work" let me explain my point of view on this.

In the past week or so, they have announced that June 29 until August 10 they are going to be shut down. Laid Off.

Two weeks of this layoff, the employees must pay themselves with their vacation time and sick time in order to get compensation. The question was raised as to #1, what if you don't have enough sick time and #2, what if in the future you are sick and have to take time off but had to use all your time for this layoff. Their answers were, you are not compensated for the time that you have no vacation time to cover and that they didn't know what was going to happen if you needed time off in the future.

Vague! TOO Vague!

And so, to continue on with my point of view...

He returns for two weeks. He is laid off for six weeks. He will only receive compensation for five of those weeks, resulting in all of his vacation time and sick time being depleted for the remainder of the year. He is expecting to return to work on August 10th. HOWEVER...

What if he isn't called back? At this point, the deadline will have passed for him to have taken the buyout that was offered.

Now, I am fully aware that the buyout that was presented to the employees was substantial in the eyes of some and too little in the eyes of others. We are only trying to make a decision that is in the best interest for our family. And beleive me, it is not an easy one to make.

Given the current economic standing of the company, I don't have the faith that I once had. Things can change in the blink of an eye, just look at the past six months.

Given everything I've already listed, coupled with the fact that the hubs does not like where he works and considering the physical issues that he has from working some of these jobs, I ask him, "Why do you even consider staying?"

His answer was, "I can't just walk away. I have a family to take care of. I need to know I'm doing the right thing."

I have told him that I support his decision, whatever it may be. I can't be the one to make this decision for him. If it were me; however, I would take the buyout and walk away. I say this for several reasons.

First, the future of the company is, in my opinion, shaky. This leads me to believe that his position with the company is shaky as well.

Given the economy and the amount of foreclosed homes on the market, the chance of finding something to pay cash for is relatively high. This would eliminate a monthly mortgage payment or in our case a rent payment. Our current rent payment is high and isn't anything I could afford on my current salary. Without a rent/mortgage payment, how much money do you need to live month to month? That is the question that we are weighing heavily. For us, our biggest monthly expense is our rent payment.

How much stress would be eliminated from your life if you didn't have a monthly rent/mtg payment? For us, I'm sure it would be extremely beneficial.

Benefits are currently carried through the hubs. I; however, am eligible to carry benefits on the family through work. This fact does not concern me.

The hubs current pay vs what he will ultimately be working for if he took another job has been mentioned. Without a rent/mtg payment, we could live on a lower payscale. Besides, isn't it possible that his current pay could be cut through GM considering the status of the company? Sure, it hasn't happened yet but who is to say that the pay and/or benefits won't be cut or reduced in the future.

Since this post is long, I'll sum my point of view up with these thoughts. My fear is that if the hubs chooses to stay with the company (which I will fully support), that he will end up getting the short end of the stick in the future, whether it is by not being called back in August (missing his window to sign up for the buyout), by contract changes affecting his benefits and/or wages, or just simply by getting laid off again in the future without a buyout offer on the table. I'm not sure that I am comfortable with this game of "Deal or No Deal" when it pertains to my family! Whatever he decides, I will support him.