Anyone factually know of the enhanced severance details? I know someone who was laid off a year or so ago and after 12 years they got one months pay and silently finished there two weeks.
I hope it’s better than 1 week a year and some bogus outplacement service.
At this point at least everyone knows whats in the severance package. Everyone should share that around the company.
I do wonder if there will be a cap on those that get terminated mid/EOY for the pro-rated STI payout. Else, that's pretty decent - EOYs get the 10-12 month payout and their 8 weeks. I wouldn't count on it but as an ex-bb engineer I'm sub'd.
Also the coaching stuff is as bad as it sounds. A bit of time with claude and your resume will come out near perfect.
@1xp so much for their claims of it being a “enhanced severance” or whatever the wording was on that original January email. Not that I am surprised.
Same from what I have heard, sounds like no matter how long your tenure was (2 years, 8 years, 14 years) you will get the same package;
8 weeks of pay
pro rated STI/LTI cash payout
2 months of subsidized COBRA coverage extension
2 months of “assistance” which is basically just resume coaching and 4 video call sessions with a coach on whatever topic you want (job hunt, networking, advice)
If anything you sign would extend your anti-competitive agreement pls really think about not signing it
8 weeks
Retained some stocks
New job coaching service
Can’t give anything more as I don’t know who got what in their packages and it could be revealing.
Market is insanely bad. I would advise you be on the lookout now and have some recruiters on your side. I personally don’t believe anyone in the US beyond directors and up and possibly some architects will be left standing at the end of two years.
Good luck.
Remember to not reveal anything that could identify who you are. Especially if you say anything that is against any contract you signed and Blackbaud could go after you for.
Well, its in motion. Lets see those layoff package figures....
Dont. Sign. Anything. Speak. To. A. Lawyer. First.
I was let go a year ago and got 8 weeks. I had only been an employee for 3 years. Was better than I was expecting. But it also appears to be getting smaller each round. Good luck.
Good friend let go last year got 8 weeks and had been with the org double digit years.