Anybody know what the severance packages are this time around?
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@n5+1jvbc1y8e if you loved nike for 19 years, you've got bigger problems
@n5+1jvbc1y8e Also to add, if you get 60 day grace period and you’re technical last day is july 16th. God knows you need the extra time, more than half the people I know from the last layoff are still looking.
… sorry, forgot to add that I wish you the very best of luck going forward as well.
Thanks @n5… great perspective. Really appreciate your input.
With 7 years of service, but less than 10, for levels 20 and below, you'd get 16 weeks; or for levels 25 to 40, you'd get 20 weeks; or for levels 45 or higher, you'd get 24 weeks.
I'm sorry you got shafted just short of the 20 year mark. I was also one of the long time employees impacted last week, so I bet we probably know each other. I do commiserate with what you expressed in terms of feeling used and thrown away, and I wish you nothing but the best of luck finding a better situation going forward.
For me, there are literally almost a dozen roles open on the Nike job board right now that are the same title as what I had. In an ideal world, the company would recognize my value, competence, and service by shifting me to one of those other open positions. If Nike were a smaller company, or like it might have been in the distant past when they actually cared about employees, they might have taken the time to evaluate each individual and the other needs in the company to see if they could retain FTEs instead of letting them go. But that type of job mapping and due diligence would take time and effort, when it's just easier to have some consultant arbitrarily check people off a spreadsheet based on some impersonal criteria instead. In this situation, it's lazy and unthoughtful, especially when they decided to outsource a whole org to a 3rd party vendor. It su-ks.
The thing I wanted to point out specifically for you is that you likely didn't miss out on 48 weeks, but 40. For levels 25 to 40, with 15 to 19 years of service, the severance is 32 weeks. For those same levels, with 20 years service, it's 40 weeks. You'd have to be level 45 or higher to get the max 48 weeks. I know that's small consolation, but the difference isn't as big as you thought.
Take the money and run! I think we'll both be better off elsewhere, even though it hurts right now.
I completed 7 years...how much severance i would get?
I fell short of 20 years by 2 months (as of July 25) so got 32 weeks instead of 48… and then was told I wouldn’t get a dime for the 15 year sabbatical I was finally going to start next week. I’ve sadly come to truly hate the company I truly loved 19 years and 8 months ago. Every human is an athlete. Every athlete is a tool to abuse until their utility has expired, at which time it is drenched in gasoline, lit, and thrown onto the pile.
It's spelled out in the grant documents
Any idea on what the qualifications were for the accelerated vesting?
30% off discount for the Van
Thank you @a2+1jvbc1y8e
Useful information? On this site? Well I’ll be damned…
The severance package is exactly the same as it was last year. The payout is based on tenure and job grade level. The minimum is 4 weeks of pay and the max is 48 weeks. This payout is done in a one-time bulk payment after your final paycheck, which for the folks impacted today would be the end of July. People also get 6 months of health benefits, plus career coaching. Some levels get their stock options or RSU vesting accelerated. Plus, those that worked the whole fiscal year are eligible for a minimum PSP payout (if the company offers one this year).