curious if the decision was super easy for some, as I know it has been a bit harder for others.
27 replies (most recent on top)
I am taking the package, but 100% know that this is an incredibly difficult decision for most people - verging on impossible. The job market is horrendous. I am sad about it and it was not an easy decision. I will have to make very significant changes to my life to adjust for lack of income, but I also doubt I would survive the November layoffs and I'm sick of working in real life Squid Games. Nothing but layoffs for the last five years has been no way to run a company and I do not trust that the layoffs will not continue beyond November.
@pn then you must be on Phase 2, right?
@ng no sh-t but I can’t do 5 days a week in the office and I wasn’t given the option of doing the severance. It is what it is.
@ks Being terminated and laid off are 2 different things. If that’s your plan, you won’t be eligible for severance or unemployment benefits.
@m3 a few things. If you’re curious, read the bottom of the return to office email and it gives an idea. Not everyone is eligible unfortunately.
@ks what would make someone ineligible for severance?
I’ll probably hang on and if I don’t get laid off in November I’m considering refusing to go back 5 days a week and they’ll terminate me. 5 days a week in office isn’t feasible for my circumstances right now and I wasn’t offered the severance. Anyone else here who is ineligible for the severance?
I have been thinking about it this weekend and decided I’m not taking the offer. If they choose to lay me off in the next round the package will be better as I will get my unvested stock and also I will be able to apply for unemployment.
@hs any unvested stock will be lost. Ie you will never get them
I am not taking the package even though I am a number to this place and clearly they would not hesitate to fire me or anyone else without a thought. But I still care about the company, too much, and do not want to leave. Post merger, we were wrong. I liked BB, everyone did, he was well known as competent and kind but where did that get us, a stock price that went from $70 to $10. Most owners would have done something when the stock went to $50. Not us we kept going down to rock bottom. All while WFH. Our new owners, no matter is said about them, are shaking it up and have the money to do it, even if 5 days RTO is a weed out tactic. Our new owners have a history of profit, Oracle has made the Ellison's one of the richest families in the world. I hold nothing against them for being rich and successful, this is what makes America great and if it returns us to profitability, I am in. I don't care going in 5 days a week, even if it takes me 1+ hours each way to sit on zooms. Pre WFH, it was conference calls all day, zooms are better, and we can see one another if you happen to be in the same building or city. From what is posted here there will be a lot of people doing nothing between now and the layoffs, while they wait to be laid off or find their next job. That will not be me. There must be others who would not consider a package and want to be here for the next generation. It has been crazy since the packages were offered but it was crazy before, first VCBS merger, COVID, WFH, merger on off again. It has been crazy here for 5+ years. I think these guys will do what they need to do and a year+ from now, those who make it through will be with a better more stable company. DE is a young guy, comes from a tech family and passionate about our industry. Why does he have to grow up like us to return us to success. Why do we care if he has ever lived like a regular person. Our differences makes us great as a country and company. I miss my blackberry too but times change and it turns out my smart phone is amazing. I am embracing the change and pray I am not laid off.
@dy can you explain what “continue to vest” means?
Since my severance would only go til early January, so I'm better off staying on to keep full health insurance through the end of the year, and then quitting the 2nd week of January when RTO is mandated. Same pay/compensation but keeping health insurance until EOY until I can get on my spouses plan starting Jan 1. If I get laid off in Nov it is what is it is. The few paid weeks to reset sounds nice but since I have a lower title it's not worth it. If I was a VP or director with more time offered to me I'd take the offer in a heart beat.
If you are near an office and can make it work, I suggest just hanging on. Worst case you get fired in October/november and get the same package. Best case u hang around longer (maybe make bonus if you’re eligible).
@dz double trigger vesting won’t apply for RTO separation agreement, HR confirmed. And no prorated STIP for below VP.
@dy Yes we know. We’re okay with that and other people should be too.
@dy The double trigger vesting would apply, no?
for anyone taking the package, please understand what you are agreeing to. accepting the package legally means you are resigning, which means you are not eligible for unemployment and any stock you have will not continue to vest. totally understood that it is stressful to stay in a bad situation, so do whatever is best for you, but make as informed of a decision as you can. if i was phase 1, i would wait it out and start the job hunt now.
HR shared on the streaming tech office hours that the severance package plan is a company-wide policy, not specific to situations or departments. It’s published somewhere in total rewards. The package for Nov layoffs will be the same as it is right now for the opt-in severance. I think it was implied it would also be the same for the phase 2 employees. To be “fair”. After that point who knows if the policy will change going forward
@dd I have no confirmation of this but I would have to assume anyone that is laid off in November would still receive the severance package they were offered this go around but what do I know? I never in a million years thought they’d go back to five days, I thought four at most.
If I stay but get laid off in November will I still get a severance?
If I stay and don’t actually go in 5-days a week starting in January will they immediately fire me? Really?
Staying and actively looking to get the h-ll out of here...
Leaving! I feel like I’d be canned in November anyway and this way I can not stress the next 8 weeks. For those staying please remember that layoffs in the thousands are still the plan.
It was an easy decision for me – I’m staying. The choice is simple: either commit to five days in the office with a job, or opt out and have no control over when (or if) I’ll get another job. While I don’t want to do the five days in the office, I also need the income to get by. So, I’ll make it work and start looking for a new job while I'm there…
Me and almost everyone on my team is taking it. I think other people should too if the package is good enough!
Wondering what other changes next year in terms of sev packages. Hearing a lot less than the 2025 agreement.
We know this is never going to be one and done.
staying - sev is same as warn act money and the job market for friends has been horrendous - not just in entertainment - at least a november layoff i'll be paid through Feb...and be eligible unemplyment for sure
Coordinator level here. I'm staying to see how November goes.