Help Me Decide

[Mighty Frugal]

You guys have always been wonderful in helping me make some decisions. I have another one for you.

I have been employed at the same workplace for 20 years. I like my job, love my co-workers and adore my boss. He and I have worked together for the entire 20 years. He is my mentor and my friend-but work friend, we are very close but never see each other outside of work. I'm also they type that doesn't like change too much.

So......my company has been sold (again) and part of us are staying with the original company and the other part not. I am staying with my boss, my regular job, not much changing except about 20% of my co-workers are moving to another company.

So......my boss told me today that the chances of us still having a job in the next year are slim. This is just speculation on his part but we all realize our field is dying a slow death that accelerates as it reaches closer to its demise.

Maybe I can find another job within the organization. Maybe we have 5 years left...or at least 2....maybe just 6 months-who knows.

My boss has offered me a job at the 'other company' this place is more likely to survive at least 10 years....and the product is something I like much better than my current job.

But....it would be a 25% pay cut. My job wouldn't be as stressful and we could survive with 25% less but who wants to? And I don't know 100% for sure if my current job will actually be cut....

And.....my new job could move location in a few years which would be very far from my home..right now it's a 15 min commute, that would turn into an hour plus commute. But my boss insists he highly doubts they are moving and to shut up about moving because its not even on the table (we talk to each other that way)

So if I move I lose
25% pay
my beloved boss/friend/mentor
a great friend at work who I've become close to-we work out every day together, and I'll miss her so much
possibly location
something I've been in for 20 years

If I do move I gain
far more chance to be employed in years to come
Something I wil probably come to enjoy more-the product and possible growth
I could still work out with my friend-she'll be in the same location-I just won't see her day to day at work.

If I don't take it I can jsut let the chips fall where they may. I've been secretly hoping for a package so I can begin my next chapter in life and explore different options. But with 2 young boys at home and my nanny costing 24k a year I would end up finding an at home job as I couldn't afford a nanny any longer.

I am thinking of running a before and after daycare in my home. Crunched the numbers and it would equal to me earning 40k a year (after I add in 24k for the nanny I currently pay) Plus I would be here for my kids and have 6 hours a day to be a SAHM which has always been my dream.....

But..cash is nice too......argh...

What would you do?

[kally]

I would say you should just wait it out, see if there is a good package and move on to your next dream of the daycare. Your job sounds lovely, but 24 K a year would be a lot to save from the nanny too.

[janharker]

I am reminded of my rule of never buying a car the first year it's out. Wait until the bugs are fixed. I think you ought to stay where you are, where the bugs are already fixed, where you can work with someone you highly respect. The opportunity to move to the other company may be there later on.

[Mighty Frugal]

Thanks guys. That is my gut feeling too. Now to discuss with dh

[Tammy]

if you are laid off from your current job in the next year, and you already stated that you can afford the 25% pay cut, I'm wondering if you need much of you income at all with a layoff, as the nanny won't be needed.

If i were you, based on the answer to the above question, I would stay right where I was, and HOPE for a lay off, with a buyout or unemployment, as that would be a great sabbatical after 20 years!

[Mighty Frugal]

Thanks Tammy. Yes, dh and I are debt free-including mortgage and have a very healthy EF. My buy out would probably give me a years severance and then if needed I can go on employment insurance for another year

This is a bit weird but I took my kids bowling today with a friend and her son. They had these cheesy arcade games there and friend and I did the 'palm reading' one for a quarter. For me it read 'major changes are coming your way in the next month. Don't be shocked, in the end it will be a good thing and will be followed by extreme wealth' so if a cheesy electronic palm reading machine for a quarter tells me to stay put and wait for my 'shock' then who am I to argue?

[Shari]

I have always opted to wait it out and am still employed at the same place. When jobs have been eliminated they always seem to have others.

[AmeliaJane]

It sounds like waiting it out might be the right choice for you, given your financial situation and interest in working at home next. I will just throw out the other perspective (perhaps for others in similar situations) which is that if you do need to keep working, riding the sinking ship down is very hard on the morale. I have been with two organizations on the downward spiral and the stress, inability to plan for the future as an institution, etc is just miserable. Plus as a colleague once said, "It's better to run toward something than away from something.". Just food for thought...