So, we had an "All Hands" meeting on Thursday. The CEO of the division we're being re-org'd into came and basically said, if we don't win something big by the end of the 1st quarter of 2007 there will be significant layoffs. Quite possibly as much as 1/3 of our unit.
My boss approached me with option that would keep me on a non-overhead charge number for a solid year. The catch is, I'd have to transfer out of his group and start doing something that is 180 degrees from my current job. I really, really like my boss. He's one of those once in a career type bosses. Not a single pointy hair on the man. The boss in the other area seems like a decent guy, but until you work for a guy you can never really tell.
My current job is structural analysis. Highly technical, lots of detail work. It's a job that few are good at and even fewer enjoy well enough to stick with. If I wanted to, I could probably get a another analysis job at any of 3 or 4 other companies in this area at a equivalent or better salary. And that's not counting contracting/consulting gigs.
The offered position is Launch Vehicle Integration (I work for a company that makes satellites). It is not a technical job. It is more like program management than anything else. Making sense out of chaos rather than solving specific problems. Not sure what would happen to my compensation at this point. Slight chance of a minor raise, but most likely I'd stay flat but the possibility of a pay cut is not zero.
I have enough work to keep me busy through about mid-February. After that it's anyone's guess at this point. But by then there's not likely to be work for more than 5 or so of the 9 analysts in the group if something doesn't come along by then, and there's no promise that I'd be one of the guys that got whatever work was still available.
The other aspect to all this is that I have to make a decision on this by Tuesday at the latest (I was only told of the option this past Thursday). The guy that is the current LVI for that particular program is voluntarially changing to another job at the first of the year. His boss has to replace him, and must do so from within (hiring freeze). If I say no he has to look elsewhere and can't afford to wait.
So, I'd just like to hear what you all would probably do if you were in my situation? Honestly I'm leaning towards taking it and using the time to see what else is out there. However, I have to commit to the job for a year. Leaving before the bird launches would be seriously bad form. Also, I've only been at the current company for 2 years. For my last job, I was there for 3.5 years. If I decided to leave now I'd be at greater risk of being labled a job hopper. Getting laid off is one things, but choosing to leave after such a short period of time has its risks.