Thread regarding Lenovo layoffs

For those laid off, it almost costs $0 to Lenovo

For those that are affected, look at your unvested HSA (or whatever it is called). That account is held in escrow until you are laid off. It is extremely rare for anyone that is let go to have a vested balance. Mine was about $29k when laid off. My severance was under that amount. So, when I got laid off, they pay my severance, and MAKE money of the unvested HSA account.

If you don't believe me, go look at your balance. I will bet almost all being laid off have a higher unvested balance than the cost of letting you go. This single handedly proves you are nothing more than an expense to them.

by Anonymous
| 3011 views | | 4 replies (last March 1, 2023) | Reply
Post ID: @OP+1kLUJwXK
Comment! It's anonymous!

4 replies (most recent on top)

No - HSA. Its a medical pension. I left Lenovo and was 53. To vest your HSA (FSA) benefit you have to be 55 and have X number years. I had the years, but not the age. I went to another company with better benefits anyway. When I left mine was about $23K.

But the same thing does apply to RSUs. You do have to vest those as well. I received all of my RSUs. Depending the type of stock you are holding at computer share, you have to sell or move the stock to the US. Some types you can keep in the computer share account. I ended up just splitting it and keeping shares in both accounts. The dividends are not bad.

by Anonymous
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Post ID: @Ftoe+1kLUJwXK

I bet they are all logging on this past week to see the FSA or whatever it is, checking band ranges, etc. Anyone with an unvested balance more or close to severance, pay grade above 50% in their band, a look at their melatonin levels, and they will quickly see where they stand come around March 21.

by Anonymous
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Post ID: @wlss+1kLUJwXK

This was probably your Future Healthcare account FSA. For those who came from IBM back in 2005 this was setup as a result of pension disputes. Caveat is to keep it you have to reach 55. And reaching that at Lenovo has recently proven to be a Joke. Bye Bye FSA.

by Anonymous
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Post ID: @lnst+1kLUJwXK

I think you mean Restricted Stock Units(RSU). HSA is a Health Savings Account.

by Anonymous
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Post ID: @liop+1kLUJwXK

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