I got asked to resign yesterday...

GasX

Lifer
Feb 8, 2001
29,033
6
81
I got asked to resign yesterday.

My company is having problems generating sales and I am a salesman. My boss "resigned" a week and a half ago, so this isn't a complete surprise. Anywho, I have a call with the VP of Operations to work out the details in an hour or so and have to get ready. They offered me 2 weeks and $5000 to stick around until after a trade show next week. I think I am going to tell them to go fvck themselves because two weeks pay doesn't last too long and resigning makes me ineligible for unemployment.

I will see what I can negotiate in the meantime...
 

xirtam

Diamond Member
Aug 25, 2001
4,693
0
0
Wow, that really sucks. I'm guessing you can generate more than $5000 and 2 weeks in unemployment?

What do you want to do? Still sales?
 

GasX

Lifer
Feb 8, 2001
29,033
6
81
Well unemployment will pay for a year. Making them terminate me gives me a bit of a security blanket.
 

xirtam

Diamond Member
Aug 25, 2001
4,693
0
0
Yeah, make them do it. Tell them you don't think they're confrontationally cold-hearted enough to lay you off.
 

GasX

Lifer
Feb 8, 2001
29,033
6
81
I am looking at the NJ unemployment page now... Doesn't look like I will qualify for too much... Not enough time to crunch the numbers... BAH
 

anno

Golden Member
May 1, 2003
1,907
0
0
when I used to work at unemployment, "asked to resign" was not the same as voluntary quit.. it was treated like a termination. unemployment laws vary state to state, but I'd give them a call and ask before I made that decision.

the big point is that you did everything in your power to preserve your employment.. in this case, it looks to me like staying on for the show would demonstrate that better than not doing so.

anno
 

rudder

Lifer
Nov 9, 2000
19,441
85
91
Originally posted by: Mwilding
I am looking at the NJ unemployment page now... Doesn't look like I will qualify for too much... Not enough time to crunch the numbers... BAH
If its anything like Tennessee, take the $5000. Benefits max out here at $235/week.
 

Saltin

Platinum Member
Jul 21, 2001
2,175
0
0
Definetly make them lay you off. Unemployment is a better security blanket than what they are offering you.
 

dabuddha

Lifer
Apr 10, 2000
19,579
16
81
Originally posted by: rudder
Originally posted by: Mwilding
I am looking at the NJ unemployment page now... Doesn't look like I will qualify for too much... Not enough time to crunch the numbers... BAH
If its anything like Tennessee, take the $5000. Benefits max out here at $235/week.
$235/week * 52 weeks = $12220
 

Soybomb

Diamond Member
Jun 30, 2000
9,505
1
0
Check with your local unemployment office, if they count "ask to quit" the same as termination, take the $5k and then draw unemployment if you have to. If it doesn't though don't give up that security for them since the market is rough. Best of luck.
 

optoman

Diamond Member
Nov 15, 1999
4,181
0
0
Originally posted by: dabuddha
Originally posted by: rudder
Originally posted by: Mwilding
I am looking at the NJ unemployment page now... Doesn't look like I will qualify for too much... Not enough time to crunch the numbers... BAH
If its anything like Tennessee, take the $5000. Benefits max out here at $235/week.
$235/week * 52 weeks = $12220
Is that before or after taxes?

 

dabuddha

Lifer
Apr 10, 2000
19,579
16
81
Originally posted by: optoman
Originally posted by: dabuddha
Originally posted by: rudder
Originally posted by: Mwilding
I am looking at the NJ unemployment page now... Doesn't look like I will qualify for too much... Not enough time to crunch the numbers... BAH
If its anything like Tennessee, take the $5000. Benefits max out here at $235/week.
$235/week * 52 weeks = $12220
Is that before or after taxes?
before :) but would taxes be ~59%?
 

GasX

Lifer
Feb 8, 2001
29,033
6
81
59% :Q

Considering one's income is going to fall one or more tax brackets while on unemployment and that generally the max effective tax rate is 40%, I doubt it...
 

rudder

Lifer
Nov 9, 2000
19,441
85
91
Originally posted by: optoman
Originally posted by: dabuddha
Originally posted by: rudder
Originally posted by: Mwilding
I am looking at the NJ unemployment page now... Doesn't look like I will qualify for too much... Not enough time to crunch the numbers... BAH
If its anything like Tennessee, take the $5000. Benefits max out here at $235/week.
$235/week * 52 weeks = $12220
Is that before or after taxes?
I think it is before taxes (been a while since I needed it) and for 6 months only!

 

LikeLinus

Lifer
Jul 25, 2001
11,518
669
126
lol i was on TN unemployment after i got laid off from my Development company. The checks were 274.XX AFTER taxes.

Glad i'm not on it anymore! Man It's hard to live on so little (well little when you're used to a lot more).


Anyway, It's not 235 before taxes. Mine was the highest TN allows and it was 274 after.
 

DWray

Senior member
Oct 11, 1999
259
0
0
But if you take the severance, you are free to find part-time, low-paying work without it counting against you unemployment. $300/week for 26-52 weeks may be more than $5000, but that's $300/week maximum income, any more and they reduce your compensation (Ohio allows for IIRC 20% additional, so you would max out at ~$360/week).

Myself, since I would try to get at least a part-time job delivering pizza or something in the evenings/weekends (so my mornings are free to job hunt), I would opt for taking the severance package. Plus, if you get lucky and find new work right away, that $5000 is money in the bank.
 

GasX

Lifer
Feb 8, 2001
29,033
6
81
Well, I just spoke to the VP of Ops and they don't want to budge on the severance... However, I told them that they might have to fire me as resigning would jeopardize my chances at getting unemployment. They at least agreed to not protest my claim. Now I have to find out exactly what documentation I need for New Jersey to accept my claim even though I will offically be resigning instead of quitting.
 

HamSupLo

Diamond Member
Aug 18, 2001
4,021
0
0
make sure you get the situation spelled out in writing, signed by the VP and HR. good luck!
 

aircooled

Lifer
Oct 10, 2000
15,965
0
0
Sit down and do all the math. WHat you'd make in unemployment for a year etc... (they have to pay that).

Then make them an offer. Otherwise let them terminate you.
 

jjones

Lifer
Oct 9, 2001
15,425
2
0
Originally posted by: Mwilding
Well, I just spoke to the VP of Ops and they don't want to budge on the severance... However, I told them that they might have to fire me as resigning would jeopardize my chances at getting unemployment. They at least agreed to not protest my claim. Now I have to find out exactly what documentation I need for New Jersey to accept my claim even though I will offically be resigning instead of quitting.
You need to absolutely contact the unemployment office before offering your resignation. In addition, I strongly recommend that you get in writing on company letterhead, and signed by human resources or an officer of the company, that your resignation is in lieu of termination due to staff reductions and that they will not contest your claim to unemployment benefits.

Edit: Even so, you must be absolutely sure that the NJ state unemployment office will provide benefits under this type of resignation.

 

ASK THE COMMUNITY