After reading waffle's post on the subject as well as
Rigg's I decided to post my own
WWYD.
As a disclaimer I must point out that
unlike these people I am not old enough to be eligible.
Company you work for has announced they are going to reduce $1 billion in expenses, you work in a group with a significant number of contractors that is still in key segment of companies business.
Those who are 50+ and with years at company added reach 60 are eligible to opt for early retirement which means getting X years pay plus Y years medical plus other incentives. (I don't feel it is right to post exact details put did find
details here.)
You also get information that in the event you are laid off you will receive X/3 years pay and Y/4 years medical.
Math would indicate from numbers that intent is to reduce work force 5-10%.
1) Do you immediately look for another job?
2) Do you automatically take the retire offer even in absence of finding new job?
3) What odds would you need that you can find a new job within time period X to have sufficient pot odds?