Being forced out of my company

SD-[Inc]

SD-[Inc]

Well-known member
Rage3D Subscriber
Been there about 5 years. Company has a new CTO and he informed me Friday that he wants to work on a "mutual agreed upon exit" from the company. I was hoping to retire in about 15 months anyway so if the package is decent, it might be a good thing. But I have never been in this situation before. I am an executive at the company, and this is the first time I've been booted from any company before I was ready to leave. Honestly, if it wasn't for the impending retirement date, I probably would be looking for a new job anyway. The CTO is a paranoid micromanager and that really conflicts with my style. My org is pretty big (around 200), and I have no idea what he is going to come up with for a transition plan. My guess is he went out and found a good yes man that is more compatible with his style. This week I have some meeting with him to discuss further. We had a quick meeting on Friday to give me some heads up on the meetings this week but not much details yet. He has a pattern of doing this and I am meeting with my old boss today. He went through this same thing with the CTO. I hope to get more insight into how it went. He went pretty quietly so I assume the package he got was attractive.

You guys always have good insights with this sort of drama. I can't really say much to anyone I work with until this takes more shape. So, I only have you guys here to vent to. It's a bit of a shock. But I am pretty well prepared to absorb this hit. 15 months more salary wasn't going to make or break my retirement. I am hoping to hang on a few more months to help with transition, keep some equity shares, and get a good severance package. I doubt, I'll get 15 months. Hoping to push for 6 though. I do have leverage as the company does do independent reviews of leaders every year and mine have been stellar. So, dismissing because of cause is probably not a path they would want to take. The sad part is I pretty much love my team. I was taking the stress of dealing with our clueless CTO because of my belief in the potential of the team I have. We were right in the middle of a massive cloud migration and were doing some cool and amazing stuff. I pushed back hard against his micromanagement because of how it would affect them. Ultimately, that's what got me where I am now. So, I have no regrets.
 
Well Lazy8s is going through the same thing but at a lower level. I've never been an exec but for us peons to get anywhere near 15 months severance would require basically working your entire life at the company. Don't forget to negotiate on medical, my old corporate job gave me 1yr on health insurance despite my severance being shorter than that. After 1yr is just standard COBRA, working for an EU based company was nice like that, basically paid my insurance for a year. As for equity when I got sacked they automatically vested everything I had (which wasn't a lot as people should learn from Enron not to put all your eggs in one basket). I say this as Obamacare in my experience cost as much as my corporate plan but without dental/vision and has larger deductibles (this was like wow 10 years ago now). I hear it gets worse the older you get (which is fair since it's the old that use their plans more).

You planning on returning to the work force after a break like Lazy is or that's it? My suggestion is to ease off with lower stress or part time work unless you just really good at filling your time with hobbies.
 
Hey SD, sorry to hear you’re being targeted for release. I know the exact feeling, and wish you the best. Me personally, after time off I have exactly 8 work weeks left as of today. Then a nice break to re-center. Looking forward to it.
 
Sorry SD. That has to suck. But, hey, it's only like a year early. You can bounce back from that.

I'd let them make the first move with the exit package. See what they are offering and go up from there.

I'd also ask for any non-compete clauses to be removed if they offer them. Don't want to screw up future employment with that...
 
I can't say enough good about early retirement in a gated golf community.
Quit/retired in August. Don't miss work at all.:)
 
It's a little sad to spend your whole career climbing the ladder to get this far and have it end up this way. I was hoping to end on a higher note. But it is what it is. Not sure starting a new position makes sense so close to retirement. Maybe I'll do a few consultancy gigs. I also feel like I have a mountain of good information amassed through my experience and may just fart around and start a YouTube channel.
 
Lazy8s said:
Hey SD, sorry to hear you’re being targeted for release. I know the exact feeling, and wish you the best. Me personally, after time off I have exactly 8 work weeks left as of today. Then a nice break to re-center. Looking forward to it.
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Sorry you got here also. As I climbed the ladder in my career it sort of confirmed to me that most executives are pretty useless. I am sure it’s not always true. But the majority of them spend more time trying to cover their own ass than actually making a difference. Even if I do work again, I think I wouldn’t want an executive position. I remember when I was young it was always us against the system. Now I realize how futile some of those efforts are. No matter what you do, the momentum of incompetence will be stronger. Idiots at that level band together and avoid addressing issues directly because it might make them look bad. It’s more about assigning blame. Talking about reality is just a good way to take on all the blame yourself. I am looking forward to punting on this stress. I like to be grounded in reality and hate it when there are elephants in the room. Definitely NOT executive material.
 
Sorry to hear SD dude. Yea it sucks royal balls. I have seen it so many times... no matter how amazing asset someone is to company.. they will get fcked over somewhere. No matter how hard / good you worked... new CEO/CTO/line manager and you get screwed.

See what they offer. And like you said.. do some side gigs.
 
SD-[Inc said:
;n11058697]

Sorry you got here also. As I climbed the ladder in my career it sort of confirmed to me that most executives are pretty useless. I am sure it’s not always true. But the majority of them spend more time trying to cover their own ass than actually making a difference. Even if I do work again, I think I wouldn’t want an executive position. I remember when I was young it was always us against the system. Now I realize how futile some of those efforts are. No matter what you do, the momentum of incompetence will be stronger. Idiots at that level band together and avoid addressing issues directly because it might make them look bad. It’s more about assigning blame. Talking about reality is just a good way to take on all the blame yourself. I am looking forward to punting on this stress. I like to be grounded in reality and hate it when there are elephants in the room. Definitely NOT executive material.
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You just gave the most accurate assessment of my companies leadership :lol:

I, and my supervisor(s) over the years have been asked why I never try to advance up the ladder. Number 1, I make good money and (used to) enjoy my job. Number 2, multiple directors and higher, VPs specifically, warned me to beware. Everyone spent every day just watching their back. And it’s just a toxic environment.

I understand not every company is like this, but mine is, so this forced retirement is actually a gift. A solid year off, full pay and benefits. I won’t wait that long, but it will be a very welcome break to step back from the rat race for a while, appreciate what life is all about without all that on my shoulders.

I’m sure, and hope, that you get that sweet break to just…..stop and relax….as well.

edit: 24 years though :lol:
 
Very sorry to hear that. This is the kind of thing that I wish no one ever has to go through. I spent only 3 months without a job and still have PTSD about it. How money left my account faster than I could control. The sleepless nights. The constant struggle. The no replies on LinkedIn. Was a terrible time.

Coming back to your case. I would by pass the boss and check to see if you have some currency with CEO or other members of CX suite. If that is not an option then I would ask for handover timeline to be extended - let’s say 3 months. If that is also not an option then it is what it is.

On the package, I would discuss a 12 month offer mentioning stage of your career, what you have given to the company and how difficult 2023 is going to be from a job market perspective. Most likely this will be denied but it saves you from being locked with a 3 month or 6 month package. Maybe you can negotiate 9 months with 3 being active etc.

Lastly, definitely take care of the benefits. Healthcare is most important one. If there is a 401K then ask for contributions towards it etc. while you are around.

I hope this helps. At the end of the day, they will do what they will do so don’t take it personally. I used to be a confrontational guy as well. Now I quietly do what I want to do but I don’t confront. I have a lot of responsibilities and only 18 years before my retirement. I want stable income and ability to build passive income. I will do the job they want me to but I will no longer fight for what is right. As long as I know that I am making impact, I can show it to them, and also perform all tasks they ask me to. I am good. No more going around picking obvious faults in other people’s work. Their collective stupidity is far too powerful than my intelligence. I don’t want to fight it anymore.

Take care SD and don’t let this setback put you in a bad place or an emotional state. Be rational, professional and negotiate the heck out of exit package.
 
Thanks KAC. I am shooting for 3 months active and 6 severance. That would just bring me within 6 months of my original retirement plan so no big deal. I think they may go for that. I am a lot older than you so retiring early is a good option. Not sure it would even make sense to try and get another job now. Sorry to hear you are still hurting from your time away. I am in good shape for retirement so it’s not as stressful. Make sure you spend the next 15 years getting yourself lined up. Then you can swagger through your last few years with less worry about kissing ass to idiots..
 
The whole situation is a bit strange. I've seen companies bend-over backwards to not lay-off people who are YEARS from retirement. Even if he doesn't like your work, most companies would shuffle you off to a "lateral" position where you can't bother anyone, and let you retire on-schedule. Otherwise offer you an early-retirement package that makes it worth your while.

One other possibility, your CTO could wake up with a horse-head in his bed, amirite?
 
SubCog said:
The whole situation is a bit strange. I've seen companies bend-over backwards to not lay-off people who are YEARS from retirement. Even if he doesn't like your work, most companies would shuffle you off to a "lateral" position where you can't bother anyone, and let you retire on-schedule. Otherwise offer you an early-retirement package that makes it worth your while.

One other possibility, your CTO could wake up with a horse-head in his bed, amirite?
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LOL. It's smallish company in tech industry. So, there are no real retirement benefits. Only a 401K. My problem is I am too influential to leave lying around. The CTO will always feel threatened. Early retirement is sounding better and better....
 
SD-[Inc said:
;n11058696]It's a little sad to spend your whole career climbing the ladder to get this far and have it end up this way. I was hoping to end on a higher note. But it is what it is. Not sure starting a new position makes sense so close to retirement. Maybe I'll do a few consultancy gigs. I also feel like I have a mountain of good information amassed through my experience and may just fart around and start a YouTube channel.
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I hated corporate for exactly the reasons everyone above has stated. Worse, I don't have a dongle between my legs. Takes corporate backstabbing, the ladder, and being taken seriously to a whole new level. :lol:
Starting your own thing is a great idea. Whether you decide to look for more employment or enjoy semi-retirement, I'm always in favor of running your own show. I kick ass at my own business and am far happier, even with the stress that comes with it. But if you're doing it for funsies/as a side gig, there's no stress, it gives you something to do and it pads your savings a little.
 
Thanks for the encouragement greyghost. I am still looping on the 5 stages of grief and haven't got through that cycle. Yesterday was anger and depression, today more denial. It's going to be a while to get my head around it. It's a goofy state because there is still no final agreement in place on what it the transition looks like. I am encouraged that they seem to be on the up and up so far. I'll get more details this week. Hopefully that will be the first step on moving forward.
 
The consultant dealio is a good idea if starting up won't cost a huge chunk (and might be regardless). If you don't like it or it doesn't pan out you will have just delayed retirement some.

Re comments about the usefulness of executives: imo in many large groups and esp corporations, layers of upper-middle and lower-upper management have no other real function than serving as a buffer between the peons and the people who are really in charge.
 
Yeah. I need to stay friends with my boss through this process as he is discussing setting me up with a company that does due diligence for corporate acquisition/mergers. That could turn out to be pretty lucrative way to work part time. I would be good at it too because I can smell BS a mile away. Let’s see what happens.
 
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