I just was told via AskHR my severance is being paid out over 8 months following the usually bimonthly pay cycle. My 32 weeks of severance will take them 8 months to pay. Maybe its a cost saving mechanism, but holy he-l keeping all the laid off employees on the payroll has got to have some real administrative costs associated with it.
So my question is, how freaking cash strapped is CSG?
"This is a GOOD thing because you can, in good faith, apply for jobs and continue telling people you work for Citrix because in essence you do. "
No, you don't -- and what do you think is going to happen when the new employer does a background check and finds out you lied about being laid off? That is the end of your job offer.
"This is a GOOD thing because you can, in good faith, apply for jobs and continue telling people you work for Citrix because in essence you do."
This is just wrong. They're paying separated employees their severance payouts in installments on the same bimonthly schedule as active employees' paychecks. That's all. You do NOT work for Citrix anymore after your separation date (a few weeks after your last working day, for US employees). If you tell prospective employer you do, you're going to look like a liar.
Thousands of tech people have been laid off recently. Nobody will hold it against you. And this is why you should be prepared (only if you have to!) to tell TK to keep his severance: if they hang some ridiculous non-compete clause over your head, tell them you're going to work wherever you want and they can shove it.
"most people make the mistake of playing the pity party during interviews: "oh I was just laid off and am looking for new opportunities." Newsflash: you will be passed over."
A pretty clueless statement. First of all, telling someone you just got laid off and are starting a job search is pretty straitforward and honest. That's exactly what you should say. The "you will be passed over" is just plain stupid.
It’s 32 weeks (so 8 months) spread over 8 months. So as though being kept on the payroll but you are not.
"What is your tenure to get 8 months?"
Looks like he's getting his severance spread out over 16 paychecks - not that he's getting eight months' pay. Leave it to TK to sc##w over people any way he can.
This is a GOOD thing because you can, in good faith, apply for jobs and continue telling people you work for Citrix because in essence you do.
most people make the mistake of playing the pity party during interviews: "oh I was just laid off and am looking for new opportunities." Newsflash: you will be passed over.
Not banned yet, but might be in the future...
https://www.ftc.gov/news-events/news/press-releases/2023/01/ftc-proposes-rule-ban-noncompete-clauses-which-hurt-workers-harm-competition
What is your tenure to get 8 months?
FYI, some VPs and directors went over to VMware last year, so apparently not enforced.
"That's likely a delayed reaction, following several key VPs and Sr Directors joining the vendor competition last year. These folks know the inherent flaws in Workspace and Netscaler that can't easily be rectified. Also, the Citrix lead developer talent exodus has crippled the organization's ability to fix security bugs, etc."
Remember that most Director level and higher folks most likely had negotiated employment contracts with potentially different non-compete conditions than the standard employee agreement that the majority of staff are bound by.
A non-compete is designed to instill fear in an employee, it's doesn't need enforcement
Non-competes are normal in the US. Their enforcement is murky but every job I've had for at least 27 years has required one.
I though non-compete is no longer allowed in the USA. Non-disclosure, of course, is allowed.
CSG is as cash-strapped as any other profitable private division of an investment bank joint venture. Not at all.
The other big policy change is that managers are allowing high-performers, those considered to be skilled talent at risk of leaving CSG, to "unofficially" be allowed to continue to work from home indefinitely.
Meanwhile, all other CSG employees will be forced to return-to-office or be terminated. TK acknowledged that a two-tier policy is required to retain the best employees, while those merely awaiting a severance package don't require any special treatment to stay.
"The new policy may be that they'll use the threat of canceling your severance payments if you don't comply."
That's likely a delayed reaction, following several key VPs and Sr Directors joining the vendor competition last year. These folks know the inherent flaws in Workspace and Netscaler that can't easily be rectified. Also, the Citrix lead developer talent exodus has crippled the organization's ability to fix security bugs, etc.
I assume they're counting on inflation making the money they're paying us cheaper with each passing payday.
No, CSG is cash-strapped and with a mountain of debt. The financials are a complete nightmare for the company. It’s literally the gasps of a dying company.
Get out while you can.
Good to know, because this is different from the prior Citrix policy of paying all employee severance as a lump sum (minus taxes, etc).
This new policy may be less about cash flow and more about concerns of intellectual property loss, as more long-time employees leave CSG for direct competitors.
Read the confidentiality and non-compete clause in the documents that you sign upon your termination. The new policy may be that they'll use the threat of canceling your severance payments if you don't comply.