Can you anyone advice about severance. I feel the package offered was very low or is it just like this?
Completed 1 year + week
Payout includes : 2 weeks of notice pay
3 weeks pay in lieu
CIP payout
RSU (not sure, if it will be vested, vesting date in mid-dec
Is it expected or can i negotiate and if so what should i ask?
Laid off employees (through July 2026) will have all their stock immediately vest, it was part of the purchase agreement.
Your severance is pretty good for only 1 year of service. You could maybe push for a few more weeks with a lawyer but their fees would likely eat all the gain.
@a4 Two weeks
@a1 CIP == corporate incentive plan. This is what a veteran would call an annual bonus.
@ax why would you think you could lawyer up?
Hi all ,
Firstly my heart goes out to people who got laid off ,one of my colleague got laid off and we were taken aback by the whole thing (never expected that he would be the one to be impacted by it)
I joined synopsys few months ago , I'm still in probation , I scared that they might lay me off , I can't stop thinking about it, if in the worst case scenario I get laid off , is anything that I can expect in terms of severance or anything at all ? Any advice here ? I work in TPG
@ax Oh, let's say they awarded you 25k in 2024, and you where going to vest only 1/3 per year, they give you the whole 25k? That's actually good. Not sure if i would bother with a lawyer if this is the case and you have been here only for a year.
@av Yup, in Ontario. They accelerated RSU vest. Everything earned 2024 and prior are vested immediately. Everything earned 2025 are vested 12-month in advance of termination date, so payout is equal to Nov 2026. I'm debating if I should lawyer up but it seems to be on the higher end of average. Not good, not great - feels like we are being told to "eat your slope and shut up on the way out."
@ad Are you in Ontario? It means they laid off less than 50 people, as once they hit that number, notice pay is 8 weeks. They are technically not obligated to accelarate rsu. Check how much that would be in weekly earnings for you. I hope you find a better job.
@OP They ask for 1 month notice if you leave but only give 2 weeks to give you the boot? What a joke!
Get a employment lawyer to negotiatefor you, these putrid and smelly moose knuckles munchers are trying to be cheap
You can and absolutely should negotiate it. Turn down the first offer and tell them you want better. Let them come back with a better offer and negotiate from there.
In Canada, I got standard 2 weeks plus severance calculated at 2 weeks per year of service and bonus on top. RSUs vest is accelerated and everything 12 months after termination will be included in vest. Is this good?
is notice pay 2 weeks or 2 months? What city are you in?
@a1 CIP means bonus i guess and RSU's were assigned during my joining
1 year at the company, and you get RSUs? was that a part of joining bonus?
From what I saw on other thread, it was 2 weeks/year of service with a max of 6 months worth of severance pay.
Not sure what CIP stands for.