• The first stage of the forum upgrades has now been completed but they remain in a degraded state and are still being worked on. Normal posting/reading should now be possible.
    Please read this thread for more details.
    New user registrations are currently disabled.

Nissan

38Red said:
What is Recap?
Click to expand...
According to the dictionary...

RECAP -:

VERB - to repeat the main points of an explanation or a description

NOUN - the act of repeating the main points of an explanation or description

NISSAN definition - A tool used long ago with free money from Japan to pay off people who wanted to leave, usually with a £20,000, £30,000 or £50,000 lump sum (less tax on anything over £30,000)....*

Primarily used to get rid of the wasters, but also some of the older employees, which meant if you were going to retire anyway soon, then HAPPY DAYS FREE MONEY...🍾

*Note the MD has been saying for at least 5 years "YOU WON'T SEE RECAP EVER AGAIN", but some still live in hope...

Sadly even though I asked for it when I hit 55, there was none forthcoming, so I stayed longer than planned until almost 57,

Saved more up anyway than I would have got if they had given me it, didn't lose 10% of my pension and more importantly, cost them a LOT more in the process...

Not that I am bitter about it, even though it made perfect financial sense for them to give me it, when did Nissan do anything sensible, especially financially... :lol:

The rate people have been leaving the last few years there is no need to pay them to leave, even the older ones get sick eventually...
 
Last edited:

Marky Mark said:
According to the dictionary...

RECAP -:

VERB - to repeat the main points of an explanation or a description

NOUN - the act of repeating the main points of an explanation or description

NISSAN definition - A tool used long ago with free money from Japan to pay off people who wanted to leave, usually with a £20,000, £30,000 or £50,000 lump sum (less tax on anything over £30,000)....*

Primarily used to get rid of the wasters, but also some of the older employees, which meant if you were going to retire anyway soon, then HAPPY DAYS FREE MONEY...🍾

*Note the MD has been saying for at least 5 years "YOU WON'T SEE RECAP EVER AGAIN", but some still live in hope...

Sadly even though I asked for it when I hit 55, there was none forthcoming, so I stayed longer than planned until almost 57,

Saved more up anyway than I would have got if they had given me it, didn't lose 10% of my pension and more importantly, cost them a LOT more in the process...

Not that I am bitter about it, even though it made perfect financial sense for them to give me it, when did Nissan do anything sensible, especially financially... :lol:

The rate people have been leaving the last few years there is no need to pay them to leave, even the older ones get sick eventually...
Click to expand...
Office staff have had redundancies, recap/redundancies whatever you want to call it. They will need more and more people gone in the near future.
 
legend73 said:
Office staff have had redundancies, recap/redundancies whatever you want to call it. They will need more and more people gone in the near future.
Click to expand...
That's a fair point, they were missed out a couple of times and finally got a go too the other year...

Don't see anyone getting £50k ever again though when turnover is high enough anyway, especially if they have NO money, though for anyone's sake who wants to leave good luck to them if they can... 👍
 
Marky Mark said:
That's a fair point, they were missed out a couple of times and finally got a go too the other year...

Don't see anyone getting £50k ever again though when turnover is high enough anyway, especially if they have NO money, though for anyone's sake who wants to leave good luck to them if they can... 👍
Click to expand...
Well the office staff pay offs that were done on the quiet are quite insane figures
 
Marky Mark said:
According to the dictionary...

RECAP -:

VERB - to repeat the main points of an explanation or a description

NOUN - the act of repeating the main points of an explanation or description

NISSAN definition - A tool used long ago with free money from Japan to pay off people who wanted to leave, usually with a £20,000, £30,000 or £50,000 lump sum (less tax on anything over £30,000)....*

Primarily used to get rid of the wasters, but also some of the older employees, which meant if you were going to retire anyway soon, then HAPPY DAYS FREE MONEY...🍾

*Note the MD has been saying for at least 5 years "YOU WON'T SEE RECAP EVER AGAIN", but some still live in hope...

Sadly even though I asked for it when I hit 55, there was none forthcoming, so I stayed longer than planned until almost 57,

Saved more up anyway than I would have got if they had given me it, didn't lose 10% of my pension and more importantly, cost them a LOT more in the process...

Not that I am bitter about it, even though it made perfect financial sense for them to give me it, when did Nissan do anything sensible, especially financially... :lol:

The rate people have been leaving the last few years there is no need to pay them to leave, even the older ones get sick eventually...
Click to expand...
Indirect staff have just had long term staff being paid off, not sure if it's classed as recap tho
 
leecoo said:
Indirect staff have just had long term staff being paid off, not sure if it's classed as recap tho
Click to expand...
It’s understandable markymark would be p****d off, having worked near enough two years to make up for a recap.
Certain people are praying for a payoff and some people who have left are hoping that there isn’t another one it is a simple as that.
You would be absolutely gutted if there was another one if you had already left or a redundancy payout which is highly likely.
 
legend73 said:
It’s understandable markymark would be p****d off, having worked near enough two years to make up for a recap.
Certain people are praying for a payoff and some people who have left are hoping that there isn’t another one it is a simple as that.
You would be absolutely gutted if there was another one if you had already left or a redundancy payout which is highly likely.
Click to expand...
TBF I was not really so much peed off more disappointed, and just amazed they turned down my request when it would have made perfect financial sense to them...
I had seen my best mate retire 2 years before me with the £50k RECAP and was hoping to get it but covid put paid to it...
I would not have really called it working the last 2 years I did though, compared to the previous years but especially the first 10 years I did from the 80's into the 90's, that was brutal...
With builds and line speeds right down it was money for old rope.. And I was just saving more up for my retirement...
And being a T/L on top of band on 3 shifts I was getting over £50k for doing not a lot, going home early many times, but after the lads had first of course...
It actually worked out ok as they had to pay another £20k in my Scottish Widows pension which I just cashed in as it was just under £30k so it qualified as a small pot.
I even got £10k tax free for my shares as they were at a half decent price after being on the floor...
And as I had no debt I saved up more than I would have got RECAP anyway...
And the bonus was not losing 10% of my pension which was an extra £170 a month and getting more lump sum too, so win win all round for me, I just lost 2 years retirement, well 20 months exactly..
As I said to my manager just before I left if only you had given me RECAP, I must have cost you about another £120k at least and every 10 years I live an extra £20k on top of that, his face was a picture...
Anyway I have more money than I need now so someone else who really needs it can have mine, hopefully if any do get laid off they get some, I for one would have no problem with that... 👍
 
Last edited:
You must log in or register to reply here.
Back
Top