Whats your prediction?
33 replies (most recent on top)
If I understand correctly, the effective date is August 1 but increases won’t show up until the mid-month payment.
When are pay raises, for those who are eligible, expected to be reflected in ones account? I heard murmurings that increases may have been postponed (again).
Should increases be paid August 1 or would they first show up Aug 15 (or thereabouts dependent on who you bank with)?
If eligible employees are expecting an increase to their checks as of the 1st of August, they may want to double check their deposits.
After receiving an alert that a deposit had been made to my financial institution (I normally get paid a day or two early) I noticed the amount was unchanged from previous Symantec deposits and I am eligible for an increase.
Severance description tracks with what I read (last time I looked on Syminfo, except you get 2 weeks, not 1 week, for each additional month of employment.
Weird how quiet it was today, no news, no new rumors. What gives?
There's info on SymInfo as well as an older Excel spreadsheet that will get you a rough estimate. Severance starts with a base X number of weeks of pay, and then you get an additional week of pay for every year you worked after that. I left the company in 2018, and the deal was a little less than what was being offered previously or so it seemed from the old spreadsheet, so I would recommend asking for a current spreadsheet/formula if you're laid off, and definitely do the calculation yourself.
Overall I was pleased with the package I received, and felt it was pretty generous, all things considered. I won't say getting laid off was fun. I was burned out on SYMC by the time I left, but it's still not easy to hear you're being laid off. Your mind sort of goes over this mental gymnastics of what the heck am I going to do now? Still, the package let me take the time needed to find a new position, and then some, and once the dust settled I think it was the best thing for me and Symantec. For everyone on the chopping block, I know it's a mix of emotions, but there's light at the end of the tunnel, and know that this is really just a business decision coming from the top, and the company as a whole is struggling right now to make it work. It's not fun, and we've all seen a lot of great people walked out the doors, but Symantec as a whole needs to slim down considerably to survive, whatever that survival is going to look like. Here's hoping everyone that is laid off finds a nice landing quickly, and has a little extra severance money left to show for it!
hopefully, what y'all find in SymInfo is still the same with what my sev-package was
Look on the corporate intranet ;).
@10aIHkZi-7xkz, if you work at Symantec you then know how to type "severance" on the search field in SymInfo. You will find what you seek.
how to calculate severance package, any simple calculator online or some simple calculation?
Are they planning to lay off employees from support as well?
Annual pay increases are still in effect for August 1st for the Draper site, there has been no official information about moving the increase to the end of August.
Also, it appears when the RIF happens the decision on who gets laid off is coming from the SVP level and above so your manager and his/her manager are not directly involved.
The Draper site in Utah is looking at a 10% RIF but no concrete date for it has been set. This means roughly 50 layoffs are going to happen, but no one knows when.
Notification date is the 8/6
Does anybody know the details of severance package?
This is a company with a strong brand name and good products. Why is it not doing better in the Cyber Space? Does not make any sense.
Is Broadcom deal still being worked out ? It is true that the layoffs were put off ? Not sure why .
Broadcom deal is still in play. Prediction for layoffs is 8/2 possibly 8/8. They are looking at a 15% reduction across the board to lower costs and facilitate the acquisition. Falls in line as comp plans pushed out till the end of Aug. Start looking!
In all probability, yes. My guess is they'll save the money and pass the layoff burden to Broadcom, particularly if Broadcom wants to buy at a discount. Who knows though. A pox on the board and executive team.
So do we think the Broadcom deal is still going on ?
Layoffs are cancelled by Symantec for now and later these may happen after the Broad Com deal is done. Entire IT department will be gone sooner or later !! Start preparing for your next career move else these so called ITLT will screw you all in the name of cost-cuts, re-alignment and what not.
To someone "in-the-know", what is the expected drop-axe date? 8/8 is the meeting... will it be before or after?
Are you kidding me? What a joke!
Lol.. what a mess of a workplace, glad I checked out last year
I don’t want to believe the pay increases have been moved to the end of August, but it seems like the sort of disgusting, unethical c-ap leadership would pull at this time.
To the person above asking for credibility, I was told today the layoffs are pushed back until early August. Quite lovely, because the employee performance was pushed back until end of August.
In Culver, it's getting thinner, and quiet. Majority of security has been let go (they are still working, just transferred to other contracts). I began to rid personal stuff to prepare for enlightenment.
The photo of my dog no longer stares at me from my desk, just the paranoid eyes of the electrical receptacles.
I can't speak for every team or department, but some layoffs definitely have taken place already on the Enterprise side. People have even posted goodbyes on LinkedIn.
Even though the weather is clear and bright these days, it’s quite gloomy inside the company. Not sure where is it headed.
The layoffs have been postponed indefinitely. Some say until the next board meeting on 08/08. Some employees had been informally notified they would be laid off on 07/24, and they were told today that it was business as usual and their positions were safe... until next time. Never a company has been this dysfunctional.
Is this all speculation or can any anonymous person say this with actual knowledge? You don’t have to say what or how but maybe comment that you actually know with some concept of credibility???
Tomorrow people will get to know.
Any information about the layoff?
All of the above and more...
Firesale! Everything must go!
Enterprise