Bose has started paying retention bonus to "key" employees.
If you are still at Bose and haven't been payed retention bonus, you might be next to go.
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Kind of makes the “work horses” still there who got zilch feel like losers. But I am sure we’ll be appreciated when things turn around, right? Riiiiight..
So the many thousands of us, let go in the constant and repetitive layoffs over the many years since 2009 (not so recently), many having been at Bose a decade+ (also long-tenured), were not among the serious work horses and the ones who kept morals and values high - so glad someone cleared that up.
recently: no raises, no bonuses, lots of layoffs.
Is it that hard to conceive that bose might want to keep the good people from leaving? I worked with a lot of real good people there. Seriously good at their job. I worked there for decades. You knew the serious work horses and the ones who kept morals and values high. Don't write bose off just yet.
I worked at the Columbia plant and one of the Managers in purchasing went to HR to turn in his papers announcing his retirement and the HR manager said "Why don't you just wait a week". That week they announced they were closing the place down and that same manager was asked to stick around until they shut the place down and they gave him a retention bonus for doing so. I remember him saying "Best day of my life!"
I left the company at the end of 2019 and it was the best career move I could have ever made. I encouraged many around me to start looking and offered referrals but even 9-10 months ago people didn’t want to make the move. A handful of those people are now laid off and the ones I still talk to that are still there have no plans to look elsewhere. Bose employees are too faithful to a dying company. The retention bonus is another Hail Mary. Ex coworkers, please, look elsewhere. There is nothing Bose can offer you. These layoffs are not Covid related. Bose has been downhill for decades without a way to turnaround. You’ve waited it out long enough. If you’re looking for a sign this is it. Want more for yourself.
I don’t know how Bose does it but retention bonuses typically work as you get money upfront and have to pay back if you leave within a certain period or you get paid At end if you stay a certain period. Sad that they cut bonuses for all and only paid select people bonuses with contingencies. If I were still there and didn’t get one I’d start looking.
For those who received the retention bonus - is it a percentage of your overall salary and do you have to sign something saying you will stay for a certain number of months?
Think of a retention bonus as getting paid to stay on a ship until it is under water. If you got a retention bonus it means you will more than likely get shafted in the future but at this time you have some sort of skill set the company recognizes it needs....at this point in time.
So earlier this year they didn't give anyone bonuses or raises claiming COVID (it never was about COVID)... Then they had a huge layoff... And now they are just basically giving the people who have connections in the company their bonus I would say... So basically they are just screwing over more employees and getting ready for another round of layoff's.. man this company is dead.
Massive repetitive layoffs crush the spirits of existing employees. This policy of cut and then try to keep is ridiculous and, if we weren't in a terrifying pandemic/economy, people would be out.
RUN!
Maybe you can call it "detention" bonus. During the pandemic, many people have nowhere to go anyway.
"retention" was what I heard being used inside
Are these specifically called retention bonuses or disguised as something else, like a performance bonus? I haven't heard talk of this in my group and wondering what that means for us long-term....
This will just incentivize the remaining majority of people to immediately start looking for other work. And those who get it can still find another job and get new company to pay it.
Anyone who takes this bonus should expect to be terminated immediately on expiration of the promised retention period. That's the way retention bonuses typically work.
I guess those who didn't get it should leave ASAP.
Maybe this is what the company wants also ? - Maybe.
Those who got it, and continue to stay, are surely feeling comfortable.
Retention bonuses are especially bad news for anyone without one, If retention bonuses are being offered, any employee who doesn't get an offer should be aggressively seeking their next job. Attempting to "buy" employee "loyalty" is essentially admitting that there is no attempt the _earn_ or _deserve_ loyalty.
It is true
In any case, don't believe layoffs have ended
The word is they continue, although on a smaller, quieter, and more focused scale
Fantastic. One more thing to dwell on / worry about. If this is true, it sure is c-appy for those left in the decimated groups responsible for holding up the backend systems with no relief in site, with engineers breathing down our necks all the while.
So is there another round of layoffs then???
Yes.. I heard it too.. it's strictly political.. whoever is in big manager's a– gets it.. so they will be safe.. for others, good luck..