If one was to get laid off towards the end of the year, can the bonus be negotiated into the severance package?
8 replies (most recent on top)
At some companies you can negotiate the terms of a layoff
Imagine thinking you got to negotiate the terms of your layoff.
So we can assume the bank will ramp up layoffs in the days leading up to 9/30 and 10/16 to avoid paying out bonuses and 401k matches. Got it.
Severance is not a negotiation
Keyword “considered”
You have to be serving out a notice period on 9/30 to be considered for a bonus after displacement. So, layoffs post 7/30 would be eligible for a bonus.
From the "Bonus Plan":
Displacements
A Participant who receives notice of Displacement and is serving out a Notice Period on or before the Award Payment Date may be considered for an Award, subject to the other terms and conditions of the Plan. Participants who have received written notice of Displacement and who are serving out a Notice Period on September 30 will be considered for an Award for that Plan Year.
If you’re asking that question, for your level it’s probably a no. #GoldenParachute
post sept 30 layoffs are bonus eligible. the amount is tbd/team dependent