At least I liked the guy ([Redacted-by-User] Shelton) who made the phone call. He's a decent, considerate person. I understand why companies do this, but employability for a person my age should be seriously weighted in the severance package. Starting over a few years before retirement is never a good thing and is precarious at best.
I send best wishes to everyone else who is going through this with Viasat.
"Business decision." I really hate that term, because it's simply cover for the real thing, which is personal preference. It's not like the business runs on autopilot, unless Viasat made this decision using ChatGPT. Those making the decision, and at Viasat their similarly employed family members, remain unaffected. This decision is a consequence of poor executive leadership over a long period of time. The share price is right where it was in 2010. Executives can step down, boards can reduce compensation or opt for removal. I think it's time for some at the top to be "voted off the island" off the island, as one I can think of has repeated several times in all hands meetings. My condolences to the "affected" (another feeble euphemism).
I wonder if the executives are still taking 100% bonuses.
I work at Viasat and didn't even know this happened until my manager's manager sent an email out. I guess our team wasn't hit.
I was laid off yesterday, after about 14 years. I blame Viasat somewhat. Your employer is not your friend, something many people don’t realize. It’s a business decision.
I agree, it should be a month for every year up to 10. I thought that was standard. 2 weeks is sh-t.
I too was laid off yesterday at Viasat. It was nice to hear from everyone (including the one that laid me off) how hard this was and how good of an employee/engineer I was and that they'd all be willing to be a reference for me. I was already mentally prepared for these layoffs in case I was affected so it didn't hit me very hard. I look at this as an opportunity to find something better and move on and grow in my career.
So sorry to hear that. Hope you're able to find something quickly.
Sorry for you being in this situation. I do not know what their formula was for severance, but most companies put a cap on the amount.
You may be able to become a consultant with that much experience. To figure out your salary, the typical formula is (current salary) × 2.25 ÷ 2080hrs.
Good luck to you. I pray you land on your feed quickly
Done
Good point about not mentioning names, even though it's a compliment I can see respecting privacy more. I've not had this experience before, so acting a bit out of shock. I can't see any way to edit it back out but will see if I get that done somehow.
Got axed too yesterday. Not real employable at 64, yet desperately need to work due to financial crisis. OMG, didn't see this coming! And a daughter with serious medical condition to support! Any ideas for benefits?
Most companies do 2 weeks for every year. Probably not a good idea to mention someone's name though. If nothing more than to respect their privacy.
That's what I thought and so far the (unaccepted) offer to me is 20 weeks for 22 years, which seems asinine. I meant [Redacted-by-User], not Shelton (watching The Voice lately).
It should be a month for every year.