Everything's the same, except everything is different

I don't know if anyone besides perhaps GBNF might get this reference, but I'm sure some people know why I'm writing this.

My position at Capital One Bank is being eliminated. They're removing my department's presence from my job site, but they're keeping the department in other locations.

This is very different from my previous shop. This time, the company is giving me three options.

One, I can stay in my building and move to another department. My responsibilities would be less than what they are now, but my salary would be the same. Two, I can interview for a position in my department and relocate. The company would pay for my relocation if I get hired. Three, I can leave and take a severance package that includes 16 weeks of salary in a lump sum.

Even though these options are there, I'm still feeling like I was kicked in the gut. It's clear that not all stories are meant to have happy endings.

 

Sounds like it could be worse. MUCH worse.

 

You can stay where you are, work less, and get paid the same? Where do I sign up?

And I'm sorry if I caused this by being late on my credit card payment last month.

 

Gotta admit, to someone who's been laid off more than once, that sounds like a pretty comfortable -- if not downright appealing -- kick in the gut.

 

At the risk of sounding insensitive, it does sound as if it's a soft landing. Unless you opt for Door No. 3, you're not going to lose your income, or your health insurance and other benefits. You're not going to be frog-walked out of the building by a security guard. You do have some choices, although none appear perfect.

Best of luck with whichever choice you make. Maybe it's my recent experiences with newspapers talking, but it might be prudent to look at the situation long-term and attempt to determine if such reorganizations are the start of a trend that will mean more upheaval down the road.

 

Do you know where you would be relocating to? If you interview and don't get it, are the other options still available?

 

There is are no other options once this is on the table.

Depending on the department and your new reporting structure, it may be a loss of status and title. That's the only downside.

If the new department and position are unpalatable, then you can use the free time from your reduced responsibility to look for a new gig on your own terms.

Just as the best time to borrow money is when you don't need money, the best time to look for a job is when you already have one.

 

If you're confident they like you and your work and that they would actually like to keep you around -- and, given the options you're being presented, it seems like they do -- I think I'd go for option 2.

An ability and willingness to relocate shows a lot to a company, and shows you'd probably be adaptable should the need to relocate again arise in the future. It also indicates an ability and willingness to grow/change in a way that many/most people do not have or have just decided that they won't do, and means you might be open to other possible options in future.

 

Can you try No. 2 and take No. 1 if that doesn't work out? How different of a role would it be in the same spot?

 

A lower level job that is overcompensated compared to the duties involved is low-hanging fruit for the next round of cutbacks. And there is always a next round.

 

I was wondering that, too. If you apply for one of those other jobs in your same department and don't get it, do you still get to stay put with the lower-level job at the same money?