Any rumors of incentives to encourage early retirement ? 2/2/1 or 3/3/1.
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When a company uses a program like PiP to selectively lay off people, an incentivised retirement or other such programs are seldom used in connection.
If no performance criteria, such as rankings and successful completion of a PiP program, had been used, an alternative would have been to target select groups of people for voluntary severance with bridging benefits.
That may come at a later time, but I would not expect any incentives or bridging in current program and environment.
Preserve cash....Offer 0/0/0 and 90 days to leave. Then zero out executive bonus and RSU in Dec.
The Company is going to do whatever it can get away with in each country. In the U.S., it rigged its new appraisal system to conduct a disguised layoff on the cheap of about 1600 employees. In the upcoming round of cuts, it will declare an involuntary layoff and provide a severance. It will pretend the first phase was never driven by an intent to reduce the workforce. No “caring” for that group.
How could EM give an offer(2+2) after issuing PIPs and small group layoffs? Seems they are setting themselves up for those that left before the offer
It seems that laying off a person that is within 3 years of retirement is illegal or open to possible litigation. Offering such a person 3 years credit towards retirement to leave seems best way to get rid of them without legal exposure. Offering 3 years credit towards retirement to all employees may be linked to the previous mentioned 3 year offer, just to treat everyone equal.
Employee morale. Additional People quitting after first wave of cuts.
There are plenty of reasons to offer people to leave versus just ripping chairs out from under you.
What motivation do they have to do a 3/3/1 or 2/2/1? There will be some sort of severance, but if laying off (which does not require such an offer), why would they give away so much?