I wrote this article about a month after being laid off from Nortel in 2008. It was before I realized how lucky I was to get laid off at that time. Getting severance paid was a massive thing for me.
The Finality of Severance
As of Tuesday, October the 30th, 2008, I was officially no longer an employee of Nortel. The “severance machine” started grinding that past Friday. The portion of my severance I elected to take that year appeared in my bank account. My first reaction was shock seeing that value in my bank account.
I panicked that my instructions had not been followed for my severance. But they had been. I calmed down and became my usual philosophical self. I started hearing that old Peggy Lee song, "Is that all there is?". Twenty years of my life were summed up in a bank entry. It was a five-digit bank entry, so I am not complaining about the sum itself. It just seems so final.
Over my twenty years at Nortel, I have met and worked with some of the most amazing people. I have seen technological changes that staggered me about how life was before these technological "miracles." I have had four children, and many beautiful things have happened. Many sacrifices were made for work. Ultimately, I have one line in a Bank Statement to sum it up.
It was worse for others. I know people that don't even have one line in their bank account.
To The Folks, I Leave Behind
My other regret is I never got to send a "So Long and thanks for all the fish" e-mail. For those still on the inside at Nortel, please treat this posting as my "You've been a great group of folks to work with" posting. I learned a lot at Nortel. Let's see if it is true that Nortel/BNR was a "great place to have worked at."
With Severance in Hand Now, the Hard Part
I need to get a new job (some prospects) soon. I can apply this package to serious financial planning and debt reduction schemes. Finding a job these days is not simple; I have learned a lot but still have more to learn.
I leave you with this one factoid I have learned, 80% of jobs are found through networking, so simply applying to a plethora of employment is not enough. You must go out and market yourself and "press the flesh" like a politician to find your next job.
Nortel related articles
- On Being Laid Off (a retrospective) what had I learned the 10 years after getting laid off.
- A Year Ago, written a year after that day I was laid off luckily I was waiting to start a new job
- Sometimes it is better to be lucky a retrospective about how lucky I was to get laid off when I did. Read on to find out why.
- Pensions and Severance an important topic I took from my layoff from Nortel.
- Twenty Years in One Line is what my severance letter did. My 20 years are summed up in a sentence.
- Financial Issues With Severance what do you do with your severance if you have options? If you get severance as well.
- On Being Laid Off my explanation of being laid off from Nortel, a day or two afterwards.
- Nortel Still Paying Out? Really, well not that much.
Twenty years is indeed a long time. Best wishes in getting into another line 🙂
Good luck. I’ve enjoyed your series on the matter.
Best of luck. It could be worse, you could still be working at Nortel. 😉
Good luck on life post-Nortel. I think you’ll find many new and interesting opportunities.
cheers, Mark