Any Boeing workers out there going for vlo??

[freebird5850]

I got the offer.

[Responsibility2nd]

You got the vlo? Lucky bastard.

What’s a vlo?

[Sirius Lee]

I’m guessing Voluntary Lay Off. As opposed to “Yer fired!”

[BradyLS]

I don’t want the vlo. The ‘rona is bad enough!

[Responsibility2nd]

A friend of mine has lots of VLO.

Of course he works for Valero.

 

Valero Energy Corporation (VLO) Stock Price, Quote, History ...

finance.yahoo.com › quote › VLO

finance.yahoo.com › quote › VLO

Valero Energy Provides Preliminary Revenue Estimates for Q1 In the wake of reduced global demand for refined products, Valero Energy (VLO) has reduced oil processing volumes at most refineries.

[freebird5850]

Correct

[freebird5850]

Correct

[PGR88]

How V-LO can you go?

[House Atreides]

At this stage in my life, there’s no way I’m going to start to vloviate!

[freebird5850]

Good for you!

[pepsi_junkie]

Since they made it impossible to layoff older folks (i.e. expensive folks) without lawsuits, they started offering a voluntary layoff in many companies. It's typically a package to encourage people who have means or are close to retire to take the layoff deal (which comes with decent severance that you don't get if you just retire) and go off to greater things in life. It's a kinder way to reduce staff than picking people and surprising them with no job. If they get enough volunteers they may not even need to layoff others.

I know a lot of guys in their 60s who would LOVE to get a package to retire. They're already entitled to six months of salary where I work if they get laid off, a VRO would likely add several more plus a cash payout for unused vacation and for severance. It's a lot of cash in one fell swoop that you won't ever see if you retire normally. Sort of the working mans version of a golden parachute.

But if you have years of work in front of you and need a job to make ends meet the last thing you want is to take the cash and gamble that in the coming financial disaster that you'll be able to stumble on another job quickly.

[freebird5850]

29 years here.

[Responsibility2nd]

I’m 61. Same employer for 26 years. I thought I could retire at 65.

But since my 401(K) took a 40% haircut; I am obviously rethinking that for sure.

[rfp1234]

Is she J-Lo’s lesser-known cousin?

[BenLurkin]

She and Ben Affleck used to be an item.

[freebird5850]

Afraid to see what I lost. Will look in work life later.

[Psalm 73]

So, are you taking it?
Do they say how long it's for?

I work for a different aircraft company, and we are still hiring like crazy.

[Kirkwood]

I coulda had a V-Lo!

[pepsi_junkie]

Aaargh. Sorry to hear that. For people nearing retirement this is bad, bad timing. Hopefully it will rebound quickly.

[Yo-Yo]

I’m 61. Same employer for 26 years. I thought I could retire at 65. But since my 401(K) took a 40% haircut; I am obviously rethinking that for sure.

I'm 61. My 403(b) took a 40% haircut, but is back to where it was on August 18th, 2019.

It's hard to realize just how much the stock market rallied last fall. But the S&P 500 is right at it's 100 day moving average, and well above it's 200 day moving average.

Take another peek and see if your 40% haircut has grown back in to where it was a year ago.