The company is aiming to achieve maximum savings. Layoffs cost a lot of money and severance is not guaranteed by law. I wouldn't be surprised in the least if at some point in time they stop providing severance altogether. Frankly, with 4 weeks plus 2 for each year here, I think those who are laid off today are the lucky ones among us all.
11 replies (most recent on top)
It is simply smart financial planning. If I'm doing a job, and I'm reasonably confident of getting another one, why would I not want to wait a bit so that the company gives me tens of thousands of dollars? It's not like I have to wait six months.
I can't believe all the people calling those left "fearful". There are plenty who already have multiple opportunities in line and are just holding out for the severance. Stop calling it leaving with "dignity". It's clear to me that many posting that just want everyone to leave on their own because they're fearful of getting axed themselves.
From my experience, there is an unknown cap at some point in terms on the 2 weeks per year. If you were at Citrix 20 years, they aren't giving you 44 weeks of pay. I believe they cap it somewhere in the 6-9 months...likely in the 30-40 weeks of pay range.
What was Citrix pre-acquisition severance?
Even without that agreement, they could still get sued eight ways to Sunday if they didn't treat everyone equally, apart from standard factors like years of service and pay grade.
Yes. They have to honor Citrix's pre-acquisition severance policy for 12 months. If they don’t, they’ll get insane fines by the SEC because was part of the pre-closing disclosures agreement.
Uh, yes, there is a formula.
Cha ching
Leave while you can. There's no formula.
I'm amazed at the number of fearful employees that stayed and waited. Amazing in 2022
It is definitely in the agreement.
I think it was part of the acquisition agreement. They have to honor Citrix's pre-acquisition severance policy for 12 months.