I'm fed up with this place and the only thing I'm still interested in is the package details.
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for the severance package, has there been a clause that you have to give up the payment if you take another job during the payout period? curious if I should hold off on accepting a new job until after an inevitable layoff.
"60 days plus 1 week/yr"
Interesting. The buyout package was 8 months on March 13. 240 days. For someone with 15 years service (the minimum for the buyout) they'd have gotten 15x7 + 60 = 165 days. Plus pay and benefits for the past two months (62 days). Total: 227 days.
If one had more years of service, the amount of money would be greater for not taking the buyout.
People taking the buyout did get money towards insurance premiums. So there is that.
Bottom line--I don't think the buyout was that generous. Overall, someone who qualified for the buyout probably got some more money than if they were laid off today. But not by a huge margin.
What they did get was not being stressed over the past two months. And possibly already a new job.
Did anyone get a severance package whi were laid off todat?
Everyone who works at WD knows the end result is they will be laid off. WD is a waypoint, not a career. I enjoyed what I was doing and loved my colleagues but eventually realized that I had to move on under my own terms, so I found a new gig. Any severance would not have been worth the hassle of the inevitable layoff.
I hope today you get your wish. A lot of good people will be let go. The company can do without you.
60 days plus 1 week/yr
In order to compliance with WARN Act for 60 days advance notice, they will offer you extra 2 months salary.
To be honest, if you no longer like working for WD, why don't you just find another job? The severance package is not worth the mental anguish. On top of that it may not cover the unemployment gap unless you already have something lined up.
Totally agree.