Will managers or directors will also get the prorated bonus or it's only VP and above?
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@er if you worked a full year through end of ‘25 you are entitled to whatever bonus everyone else gets. I’ve seen people leave for other jobs at beginning of the year before they announce bonus and they got paid. It’s discretionary but that doesn’t mean they can give bonuses to some but not others who worked a full year
@ed this is so wrong. bonuses aren’t set til end of Q4/early Q1 next year when the board declares them. nobody’s entitled to it until that point or if they have it in their contract. the company pays bonuses as severance as a courtesy to motivate people to sign to avoid lawsuits.
STIP bonus is considered as non-discretionary wages because it's based on your productivity and company performance, and have a fixed formula, and everyone gets every year. This is not a discretionary holiday bonus. As per California law, this is considered as earned wages - and an employer cannot withheld, and they must pay the the pro rated bonus within 72 hrs of lay off.
@dk RSUs will vest for those who are laid off, according to Julys amendment.
""Double Trigger" Vesting Protection for Outstanding Awards
In connection with the Transaction, the Compensation Committee of the Paramount Board of Directors (the "Committee"), as administrator of the Paramount Global Amended and Restated Long-Term Incentive Plan (the "LTIP"), determined to amend the terms and conditions of all LTIP awards outstanding as of December 9, 2024 to provide that: if your employment is terminated within 24 months following the date that the Transaction closes, (i) by Paramount without Cause (as defined in the LTIP) or (ii) if applicable under your employment agreement, by you for "Good Reason" (as defined in your employment agreement), any then-outstanding Converted RSUs or Converted PSUs will vest upon such termination (such treatment, the "Vesting Protection").
The Committee also determined to include the Vesting Protection in the terms and conditions of all LTIP awards granted by Paramount prior to the closing of the Transaction. The terms and conditions of equity awards granted following the closing of the Transaction will be as determined by Paramount Skydance Corporation, subject to any applicable provisions of your employment agreement."
You don’t get a bonus and you lose not vested RSUs.
@cq were you VP or above? technically september opt in was not a layoff so by the terms of the offer only VP and above would receive prorated bonus. it was a resignation. that said, for people involuntarily separated I’ve always seen them give bonus. (not sure what they’d do if you were only one or two months into the fiscal year, not sure if they’d give you 9%)
The day you get laid off is not your termination date. That depends on what state you work in. If your termination date is Jan 1 or later (because they owe you 3 months notice), I’m pretty sure u should get your full bonus. If you’re short a month or a few days/weeks I’m not sure what they do
Did NOT get one or a percentage for September layoff. Tried to fairly negotiate with HR to no avail.
I understand this could be different for people impacted this week but I opted into the severance package in September and only VP+ got their prorated bonus to 9/30.
In an earlier layoff, I got my full bonus to the end of my contract (even for the time I was paid but not working). Fight for that.
I genuinely believe they are going to pay zero to little bonuses for this year. They are going to blame the previous management for the issues they are trying to fix and that the company is in a worse state than they thought.
There’s not going to be a bonus
If this round is similar to previous rounds, only VPs and above will get their pro rated bonus.
i don’t say this bc I’m in hr legal, but I do believe you’ll get your bonus. everyone I know who’s been let go has gotten one.
I assume that if we get laid off we will not get any portion of our bonus, but I can be (hopefully) wrong