Any word on what the US severance package will be for the up coming layoffs? With the 10% pay cut a reduction in the severance package seems likely.
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@ @2dkr+1mf6VP75: Medical coverage ends on the official last day of employment. That includes Dental and Vision if you are enrolled in it.
When does medical coverage usually end for those who are laid off?
Non related. European packages to be scaled down.
Well anything you get over 8 weeks for severance you could always give back to Dave, if it helps ya sleep better. Or I could take it off your hands if Super Dave can’t help. “Most Illogical”
The Nov 10Q (from the 8% reduction) listed the expected restructuring charge at 60-70MM. The 8K that was just filed puts the expected restucturing charge at 150MM. Based on the the Nov numbers and the expectation that this action will be ~25%, that suggest no change to the package for the current round.
I also think all bets are off for future rounds and have heard rumors that management will level set the package going forward to something closer to "industry standard", whatever that means.
Good luck to everyone, whichever way you're leaning.
I'm hoping they keep the two weeks per year for my sake in the US but this type of policy is antiquated as, well, hard drives.
Most places have moved to fixed duration of a few months of pay regardless of seniority. Seems fair since everyone is treated equally.
Why would you bet on less severance? Doesn’t seem logical.
Does anyone really think they are going to keep severance at two weeks per year of service given the disastrous quarter and outlook? I betting on a fixed duration or much smaller cap.
Severance will be based on your full pay pre cut.
22 May is judgment day
Pay cuts will come after the layoff.
Package details have remained stable as far back as memory serves. Speaking from a NRM perspective. The last 7 to 8 rounds anyway. Hope this helps.