I read about the 2 weeks per year after 4 years. But what else? Is it 2 months + the 2 weeks per year (if you have 4+ years)?
What about the H2 bonus? What about that garbage Employee Ownership from KKR?
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Warn is counted as part of it. Simply put, if you have 8 years or less, you get 8 weeks TOTAL. Basically, you only get Warn notice and nothing more.
I guess the question is whether or not the warn pay is counted as severance
"9 years = 8 weeks + 2 weeks = 10 weeks total."
Do you mean "2 months WARN + 2 weeks" or "2 months WARN + 8 weeks + 2 weeks"?
There's nothing that can legally be done about it?
Yep it was cr-p. Basically this:
8 years or less = 8 weeks of pay and thats it.
From 9 and above, you get an additional 2 weeks per year.
9 years = 8 weeks + 2 weeks = 10 weeks total.
10 years = 8 w + 4w = 12 weeks total.
Trying to understand this.
So if you work 4 years and get let go, you get 2 months of WARN, and that's it.
If you work for 8 years, you STILL get ONLY 2 months of WARN because it's subtracted from the total severance lump sum? This is a pretty scréwy way of doing things. Or is that wrong? Is the 8 year tenured employee to expect 2 months of WARN plus 8wks of pay?
What makes even less sense is that you have to sign for this "severance package". If you don't have to sign to get WARN, why do you have to sign for their package if its basically just your WARN pay, which you've already collected? (Not including cobra or the $1000 job search "bonus")
Seems like they are double dipping on that WARN pay.
Stating it more clearly since people keep asking despite already answering. And this has been confirmed y HR when I requested clarification. There is no “2 months + anything”
Severance is 2 weeks per year after 4 years.
That amount INCLUDES the pay we are receiving during the 60 day notice period.
So if you worked there 8 years, you get severance based on 4 years (2 weeks times 4)
The notice period is 60 days (ie 4 pay periods). That is your severance.
I do not know if anyone with under 8 years has been put on leave and if it is the same duration. But assuming it is, there is no benefit to being at the company 2 years or 6 years or 8 years, you get the same money.
I for one am taking the document they sent, which HR confirmed is final and correct, to an employment attorney next week. Simply because the language in it is not inline with the dollar amount they plan to pay out.
If you have 1 to 4 years = 2 months of pay.
“ However – and they don’t say they’re doing this anywhere in the document – the actual dollar figure that you receive has the 60 days of administrative leave deducted again.”
Are you saying the administration leave is unpaid?
So it’s worse than you think. The layoff package text says that you will receive two weeks per year of service over four years. So they’re deducting the two months of administrative leave in the calculation – that first four years removes 8 weeks of pay.
However – and they don’t say they’re doing this anywhere in the document – the actual dollar figure that you receive has the 60 days of administrative leave deducted again. Several folks have emailed about it and they say sorry, that’s just the way it is, we’re deducting the administrative leave at the end.
So you’ll actually only get severance pay if you’ve been there eight years or more, not four.
"To my understanding, the package is 60 days + 2 weeks per year (after 4 years of employment) + H2 bonus."
Can anyone impacted confirm this? I heard it was just 2 weeks for every year over 4 years. No H2 bonus payout, No 60 days for WARN, etc..
Is the WARN 60 days for 60 business days? Meaning 12 business weeks of pay? (5 biz days per biz week?) Or 60 calendar days?
To my understanding, the package is 60 days + 2weeks per year (after 4 years of employment) + H2 bonus.
If you have 1 to 4 years = 2 months of pay.
5 years = 2.5 months
6 years = 3 months
10 years = 6 months
Anyone with less than 4 years should start applying to other jobs now. Market is saturated and it can take 3-4 months to land another job.
Does anyone know if the WARN act is applicable here for US employees?
Requires 60 days notice, which historically was given as a 60 day paid leave before severance starts.
It’s my understanding courts have held that the language in WARN discussing outstationed employees applies to remote workers also.
It’s nothing. The money you get during 2 weeks of leave is part of the severance amount. So if you worked there 4 years, you get the pay checks for the leave and nothing else. If you worked there 1 year, you get the pay checks during leave and nothing else. Basically the longer you worked there the more you get sc--wed. 5 years gets you 2 weeks of additional pay on top of what someone that’s been there 1-4 years.
The garbage Employee Ownership from KKR is gone, you didn’t have anything so nothing lost here.
What we lost was the Broadcom RSUs