The email ame from Chris Calio's office today. The package is available to all employees 55+ who have 5+ years of experience.
Also, the 2020 raises that were deferred have now officially cancelled (as if we all didn't know that would happen).
Still no layoff announcements YET, but a VSP is usually the precursor to layoffs.
What is the involuntary layoff package for salary employees? Do you get anything more than 2 weeks and unused vacation time? Any medical coverage, or just COBRA?
Does anybody know if RTX-Marlboro (SAS) is offering VLO packages to legacy employees at this time?
It would probably be 10%, we're not in as dire straights as Boeing and GE.
Yet Mr. Hayes got an additional 12.5 million in stock upon his departure. What a great CEO.
@1lsz+15Bjwn3
If past actions are any sign, they're probably going to target between a 10% and 30% reduction across PW + Collins Aerospace. And although commercial aerospace is really the only area struggling, I'm thinking they will layoff a balanced number of military and commercial employees to seem as thoigh they're "sharing the pain."
Obviously, indirect charge employees will be at the front of the line.
It's also been confirmed that next round of layoff is coming–meaning additional workforce reduction will happen but just don't know the firing order will be yet.