If you're considering whether to leave now or wait for the possibly reduced severance, you're not considering all options. Citrix is not obligated by law to provide severance. Every single one of us can be laid off (not fired, laid off) and not be given anything. It would cause a lot of bad press for the company but that would be it. There is no legal recourse for any of us. So if you're considering staying exclusively for the severance, you have to factor in the possibility there'll be none.
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While they legally don’t have to pay severance in some regions, they will though it may be reduced. Let’s say they lay off 5% at acquisition and don’t pay severance. There would be a mass exodus at Citrix and they know that. And no, they can’t just go out and rehire 5k employees who left and get them adequately trained. It would sink the company and their investment would be worthless. They’re goal is pretty obvious to repackage Citrix with Tibco and go public again after the cloud transformation. It’s the most profitable path. Outside of that, they could sell off parts of the company, but that’s much more difficult. There are only a handful of companies or PE firms that have the funds and specialize in this industry.
They will make you reapply for your role. You won't get the role, therefore you are free to pack your bags and leave the building, "do not pass GO and do not collect $200" .... basically thanks for coming but you can leave now ..... with a size 13 shoe imprint on your back.
In other words don't let the revolving door hit you on the a-s, on your way out!!!!
No responses because this post is the same as every other about severance. Stop being a parrot.
I have to take my post back. It looks like the MA severance law has been struck down
Original poster is right :-(
https://www.blr.com/HR-Employment/Performance-Termination/Severance-Pay-in-Massachusetts
That is not true. There is a law that requires a minimum severance and it varies by state. Look up the WARN act. For example
https://www.nolo.com/legal-encyclopedia/warn-layoff-protections-massachusetts-employees.html
648 views and no responses... Classic.
They do not have to pay you severance. You are correct. But they will pay everyone a severance. Why? Because part of "accepting" your severance is signing an agreement which has provisions in it to protect Citrix and to legally bind you to them, forever:
Release of Claims by Employee - you release them from any an all claims, forever.
Non-Disparagement and No Cooperation - you won't disparage company, help others, including attorneys or current or former employees, for or with anything, forever.
No Admission of Liability
Dispute Resolution
Insider Trading - duh
Litigation and Regulatory Cooperation - you will help them in any litigation or investigation in the future for anything related to anything prior to your last day
Confidential Information
Confidentiality - you won't disclose the existence of the agreement or anything in it to anyone, forever.