Curious what SG is doing for severance these days. In the past it was 2 weeks per year, then they updated policy down to 1 week per year a long time ago. Is 1 week per year what people got with this recent rif?
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I don't see this company being around in 2 years' time, dead in the water now! Also, beware, if the company goes into Chapter 11 at any time, it can let personnel go without paying. This also goes for the staff in the UK... Been down that route, not nice at all!
You've got a weird obsession with AD's...movements. What's up with that?
I think the rules may differ between UK and other countries.
Statutory redundancy in the UK defined by UK government
up to age 22 - half a week's pay
age 22 to 40 - 1 week's pay
age 41 and older - 1.5 weeks' pay
So if you've done 20 years hard time then you wouldn't just jump ship.
I see some misconceptions brewing here. Let's be perfectly clear. That severance package can change or be eliminated 100% at ANY time. What's in effect for one layoff may not be in effect for the next one. You won't have any recourse. It's their prerogative. If you are only sticking it out because you might get a big payoff, you may want to reconsider. They only owe you unpaid wages and accrued PTO when you leave or they send you packing. Companies offer severance because they usually want you to sign a very restrictive agreement, practically a "general release," to get that money. Something you probably wouldn't sign on your own without an incentive.
But once things get to a certain point, they can stop offering it, too.
Just a thought!
@ork+1dYVndeA
AD would have negotiated for free toilet unclogs from their facilities vendor if he used a tenth of his brain. Seeing how he was passive with his job, doubtful!
'I'm looking at opportunities anyway'
Same here - this is not an employer's market. Doing nothing, I've had several direct contacts based strictly on word-of-mouth - no effort what-so-ever. If I were to put the word out, I suspect my prospects would grow exponentially.
No severance - lol - well, SunGard better have a lot of offshore staff on stand-by. Daily operations will get quite ugly with no one around to service it.
Last words - offer me a 'stay-on' bonus - go ahead - lol.
If they ki-l severance, I'm out. I'm looking at opportunities anyway for which I'm contacted, but that would put me into actively looking mode.
no severance = mass exodus. But, perhaps that is the end goal. Feels like it.
what POS company would get rid of severence? Sungardas
1 week. That will be nil after Jan. 2022 according to insider source.