Delta Airlines Offers Escape Packages
Delta Airlines is offering voluntary severance packages to thousands of employees, according to a recent AP story. Higher fuel prices and a weak economy have prompted the move, which aims to cut 2,000 front-line, administrative and management jobs.
Employees who accept the offers will receive severance payments as well as travel privileges and additional benefits to help them with managing their career transitions.
While the announcement of job cuts is rarely good news for a company, the offer of voluntary severance packages can be a fantastic opportunity for those who are contemplating a career change or a complete escape from Corporate America. Most voluntary severance packages come with at least a couple of months of salary and benefits and often other perks to sweeten the deal.
Several of the corporate escape artists that I interviewed were able to jump start their new careers or businesses because of voluntary severance packages. I remember a time when I fervently prayed that I would be laid off with severance. There may be some risk involved in "taking a package" in an uncertain economy, but it may also be too good an opportunity to pass up.
If you’re tempted by a severance package offer, take the time to sit down and do the math:
- With severance payments and any savings you’ve socked away, how long will you be able to pay your bills without additional income?
- How long is it likely to take for you to find a new job or get a new income source up and running (like your own business or a freelance career)?
- Is your job likely to be at risk if you DON’T take a package? If it seems likely that there will be additional non-voluntary job cuts at your firm and that your job could be vulnerable, you may be better off leaving now (assuming that it’s financially viable). Voluntary severance packages are often sweeter deals than the standard packages offered to downsized employees.
If you’d like to leave, but have concerns about finances or benefits, it may help to consult a financial advisor and get some expert guidance. If you are struggling with other issues — like whether you really want to leave or what you’re going to do next — a career counselor can help you to evaluate your options and do any necessary research.
In any case, it’s important to look at the potential opportunities represented by a voluntary severance offer After all, it would take you months to save up enough money to equal a generous severance payout. That cash can provide a nice safety net while you get a new business up and running, look for a new job, or navigate a career change.




My name is Pamela Skillings and I'm an author and career coach.