My husband and I have a tough decision to make and could use some prayer, in addition to our own prayers on this. For those who don’t know, my husband works for Chrysler. Read the paper or watch the news and you know that the Big 3 auto makers are hurting. No bail-outs for them, so it would seem. My husband works in a specialized department within the plant and he does still have a job – for now; but there is only one shift working at his plant, as the second shift was laid off, and the van plant next door is already closed. It is not looking good that they will keep his plant going and it’s expected by those who know this industry (as well as my husband and I), that sometime next year, they will also close his plant. News reports and articles are concluding this plant closing as a possibility some time in 2009.
Apparently last week, while my husband was on vacation, there was a meeting where buy-out packages were announced to all remaining employees. They don’t offer buy-outs unless something big is going on. They have offered such buy-outs in the past to get employees to voluntarily leave, with a buy-out amount of funds and their pension still in place, if they’re vested. In the past, these buy-out amounts were not large enough for us to consider them, as they would not have gotten us debt-free and trying to replace his income elsewhere would not be easy.
Yesterday, my husband read a news article regarding these buy-outs and how much they are offering. For the first time ever, the amount being offered, for someone with his seniority, is sufficient enough for us to consider. We could get debt-free (except the house) and have some leftover to live for a few months, while he goes on to other job training to change careers. They are also offering to maintain our health insurance coverage for one year. This would be enough time for him to get the additional training he needs to change careers; but more importantly, for me to get my business built-up to where it would need to be.
So specifically we need prayer regarding taking this buy-out, or do we hang in until they close up shop.
Also, we need prayer that I can get my business bringing in enough income to meet or exceed his current income. This would be ideal, then he could help me in my business – or start his own business. We are thankful we have some options and are not fearful over this change on the horizon, we just want to be wise in the decisions we make.
Regardless, we want the Lord’s will to be done.
Did I know you were in MI?! You must be! LOL! We live south of Jackson. My husband’s business is being affected by the big 3, and Michigan’s overall economy as well. His company has been shutting down one or two days/week.
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It sounds like this could be the perfect time for your husband to take a buyout … I’ll be praying for you.
No, we’re not in Michigan. He works at the truck plant in Fenton, Missouri.
The same is happening here with other companies that do business with Chrysler, as they closed the van plant last month, AND laid off the 2nd shift in the truck plant. It’s hurting more than just the actual auto workers, because of the ripple effect in the local ecomony.