One of the points mentioned when explaining severance was that we should inform them once we find another job so they can stop the severance payout. What happens if we don’t inform them once we find another job?
Someone asked this question on another thread. There was no answer and I'm also interested in what happens in that situation?
I received my severance paperwork last week. Severance only stops when you start a "like position" (something with similar responsibilities and pay), but of course HR will NOT define what exactly that means - it's at their discretion. I've been with the company more than 15 years (senior manager with a high performing team that I have done everything I can to develop and reward each year during ACP). Nothing surprised me anymore with this company, and I plan on doing contract/consulting work until near the end of my severance. Communication is NOT happening across departments or segments about the re-org/layoffs, and I keep learning about more and more people being let go mid-July. This is bigger than most of us know. I'm so relieved to have finally made "the list" after the stressful chaos of the past 5 or 6 years, I'm literally counting the days until I'm done.
lol, some "quality" advice in this thread, that will land you in hot legal water.
I heard someone wonder if TR would use their Clear product to verify when severed employees are working again but I'm not sure if they could really do that.
KR = new CTO reporting to SH
Who is KR
The requirement to notify will be in the severance agreement. They don't forbid another job. They want to encourage people to get new jobs so they can pay less for disposing of you. You're right that severance previously was in lieu of filing a legal dispute. They've changed their terms. They know most don't sue because suing costs money and they have more resources.
One thing to do is delay updating any professional profiles like L***n, and don't share details until you're done with severance. If we all do this, it will make trying to collect back money very hard and expensive. The contract clause is an immoral clause because it is non-negotiable. It is designed by people whose compensation is based on cutting costs to make the company look attractive to buyers. The same cost strategy was used by KR in her last role - do an internet search and you'll see the impact.
If you are on the verge of retirement, want a sabbatical or simply just want out, do whatever you can to make it known you would be fine with getting RIF'd. Give them some cr-p about how much you appreciate TR and what they have done for you and your family, and that you understand the difficult decisions they need to make. Play the game and get what you can out of these deceitful heartless pieces of s..t.
I still can't believe they will stop severance if you get any job anywhere, that doesn't seem legal. They are paying you not to sue them and for your prior service, which they just ended. How can they forbid you from getting a job in a role or company that is not in direct competition with TR.
Do you think they have the time, resources and inclination to go looking to see if people they RIF'd have found work?
Check the legal language in any agreement and assess risk