Yeah but after 26 years, you were downsized because of your age and tenure. All in the name of saving $$$ on pension costs. Believe me pal, you weren't alone. This downsizing of J&J veterans was planned. While you're right the separation package was fair, it a shame so many long-term J&J people who gave their hearts and soul to the company were released in a similar manner. Believe me, I know from experience, I was downsized after 30+ years without any fanfare or even " thanks" for spending more than half your adult life working for an organization that you used to have passion and undying commitment.
If you worked for JNJ for 26 and 30 years as claimed and are not in a position to retire and differ taking your pension until 65 then you certainly didn't plan well for this day. My wife still works at JNJ. Through Stock options and now RSUs we have never sold a share. In fact overtime we have purchased all our vested shares and have accumulated enough shares to get a healthy dividend payout every 3 months. The only shares we haven't purchase are unvested shares. Maybe you weren't in position where options were not granted to you. Or did not have the money to outright buy the shares for ownership and dividend payouts. Today in order to qualify for executive bonus and RSUs you have to be a Director and above. My wife who came armed with an MBA when she was hired has been in Management for her entire 25+ years of employment. So stock options were always part of her total compensation package. She has also worked for MD&D the entire time at JNJ. In fact just came back from an Ethicon facility in Cincinnati two weeks ago. So if you are complaining about JNJ's early retirement programs you should stop and ask yourself after all those years employed at JNJ… What did you do with all your money? JNJ kept you employed, paid you while you were employed and provide you with a 401K plan that matches up to 75% of your first 6% contribution. Pretty nice free money. It's not their responsibility know to maintain your lifestyle. Retirement planning should have ensured you the lifestyle you chosen.