Let help each other navigate through these troubled times instead of spreading rumors or hate.
If you can please share severance facts anonymously.
1) Does Nike accelerate vesting for all unvested RSUs ? How about options ?
2) Does Nike provide existing medical coverage during the two months on payroll ?
3) After those two months does severance include subsidized cobra coverage only ?
11 replies (most recent on top)
In the previous big JD layoff, PSP was included as part of the severance package (I believe). Does anyone know if that will be the case this time as well?
Also, if layoffs occur before 3/31, will ESPP be paid out in cash?
If someone remains on payroll for 1–2 months and then receives severance, is everything paid out as a lump sum at that point (e.g., PTO, ESPP, PSP, etc.)?
TIA, just trying to do some risk assessment.
Cobra eats Mamba!
Why would they pay out rsu's. Thats the whole point of firing people is to save money. Take your pto n pennies and enjoy
I can answer #2 based on what I received… as long as I was on payroll I received insurance coverage as normal. After that I switched to Cobra that was paid by Nike for 6 months. After that I’m able to stay on Cobra for an additional 12 months (although it’s not cheap). I’m paying $905 per month for myself. This includes dental and vision.
What prompt are you using to ask ChatGPT?
Another question - If someone is asked to relocate or leave, do they time to 1) decide like in a week 2) relocate in a year ?
@aa you don't need to look at everything with suspicion.
ChatGPT gives some info but not concrete. Sure Faq will answer all these, if it comes to that.
@a6 I did this yesterday and not sure how accurate. One of the things stated that 1 week of severance for each year of service. I can’t see anyone with 30 years of service getting 30 weeks of pay.
yeah @a5 agree, this feels a bit like a fishing expedition.
these are not answers anyone is hiding during the process.
Chat GPT does a great job breaking the severance down …
Having been layed off last May, I can tell you with 100% certainty that all your questions will be answered in the FAQs. You can try asking during your layoff 1:1 with your Sr Dir and HR noob, but they’ll just refer you to the FAQs.