Chances are the majority of us will be laid off at the same time, which means a lot of us will be looking for a job at the same time. I'm now trying to weigh the advantages of severance versus disadvantages of having to compete for basically the same jobs with so many people...
I still can't decide what to do...
SYMC needs to tell California what positions will be eliminated 60 days before the position is terminated
I don't know if this is true or not since I've observed a lot of co-workers get laid off suddenly and they were gone that same day.
Perhaps what you're saying is the reason that the standard severance package includes a base two months' salary in addition to the per-year of service payout.
It's smart way to suggest people to leave to increase your chance to stay.
Same in Canada, but they can pay for 8 weeks extra and let you go today. It should be the same for you. They just need to pay difference between 8 weeks and number of days before they ask you to leave. It works that way in Ontario.
Just evaluating our options. Please feel free to add pros and cons, or your thoughts
Senario1: Let go now.
Up - Get Symantec severance (better than Broadcom)
Up - Economy is still strong, so job search should be ok
Down - Unplanned Job Search
Down - Visa Issues (applies to some)
Senario2: Be in transition.
Up - Additional paid time for job search
Up - Get Symantec severance (better than Broadcom)
Down - Not all of us may qualify for this
Down - Job Search along with transition
Senario3A: Get an offer from Broadcom, but are let go in a year.
Up - Job continuity, atleast for now (Good or bad depends on individual)
Up - Predictable Visa process
UP - still get the SYMC severance package
Down - Surprise that you are let go within a year
Down - Don't know how the economy would be at that time
Senario3b: Get an offer from Broadcom and no issues in next year.
Up - Job continuity (Good or bad depends on individual)
Up - Predictable Visa process
Down - May not like the work culture (But that true for any new company)
SYMC needs to tell California what positions will be eliminated 60 days before the position is terminated. I'm not sure if they need to tell the people affected 60 days in advance. After the 60 days runs out, when your actually terminated, then severance benefits kick in. The duration of severance depends on your level and how long you've been with SYMC.
Is there any Law in CA, which requires the company to keep the employees on their payroll for 2 months. Is that the reason why the severance package has that constant weeks (4/6 based on your level)?
The only reason we are here is senior management bungles and greedy board of directors. End of a legendary company
Hang on guys, we can make it through! Believe in yourself. Almighty God will bless you!
If you’ve been here a while say 5 years and above probably stay for payout. If not then go now and God’s speed to you.
This is a m—acre nothing less, for the folk who love working here and ‘bleed yellow’ it is painful to see something you love ripped apart.
We have an amazing team sad to see it go.
You would leave now if you are smart. Unless you have more than 5 years here, the possible severance amount isn't worth the risk of competing in a crowded market after the mass exodus. Every situation is different of course, depends on your role/skill-set and how comfortable you may be living off savings/investments if the severance runs out...
You are contradicting yourself!