Is it the usual deal, or have there been any changes?
11 replies (most recent on top)
@aq Is that 60 days of pay, so 12 weeks?
Has anyone negotiated the severance package?
@aq is retirement eligible based on number of years at the company or age?
One change from the past…they used to have a minimum of 16 weeks if your 60 days plus 1 week per year of service was not greater than 16 weeks. So newer hires, with <7ish years of service, aren’t getting that minimum! Just another insult on top of injury, but from what I’ve seen, most people let go were at much higher years of service aka this was complete ageism, at least in IT!
I have received my layoff letter, 60 days + 1 week for every year + prorated profit sharing in February next year + time bank left 100% + get to keep ESPP and get to keep 401K because both are fully vested but no clear information on RSU unvested if you are not close to retirement. I think no RSU if you are not retirement eligible and all RSU if you are retirement eligible. RSU is not being given which is a bummer.
@a2 we're getting too close to the large RSU packages handed out during covid vesting next year. Had to get rid of thoee people.
@OP 1 wk per yr +60 days
1 week per year i think
2 weeks per year?
From the “Am I Crazy?” thread and the Mega Thread: 60 days pay (looks like some people get until December to work instead), time bank payout, you don’t get unvested RSUs
I haven’t heard anything about whether you get prorated Profit Sharing
wts the usual deal?