DONT DO IT. They dont want to pay out severance and are going to do things to break morale to get "voluntary attrition". Dont give them the satisfaction. Start building your network now to prepare for when the inevitable comes, and have a game plan for when it does.
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@47r how long after the buyout did this happen?
@a2 I worked for a company acquired by Sycamore. They cut severance in half then followed the “policy change” with a round of firings the next day. Your current severance policy is relatively meaningless in their eyes unless you have a contract. HR policies get updated one day followed by layoffs the very next day. The longer you stay, the less severance offered seems to be their playbook. Severance max went from 32 weeks to 16 weeks to 8 weeks within a little over a year.
Check the Staples thread If you wander what will happen in the next 5 years.
Wow you think you're getting a severance package from Sycamore? You're right about the layoff though...
Why would Sycamore pay severance? You fools, they're simply going to let you go!!!
You’re assuming that as a private company they would even want/need to offer severance to begin with.
Does anyone know (and care to share) if there will be a severance for those who wait?