Are they prorating annual bonus and paying that out as part of layoff/severance?
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If your separation date is on or after 10/1/23 you are entitled to your bonus next year. It will be prorated based on the months of active employment in 2023.
Absolutely………not. You quit and thereby forfeited your bonus.
Will we still receive our prorated bonus if we gave our notice prior to separation date and did not receive the severance?
Unless bonus is specifically addressed in your severance package, laid off employees do not get any bonus money
Last day employed with CVS, and/or separation date.
do you think it's till last working day or last employed day?
Well since we are out of the loop, not surprised. This really has been handed very strangely. Almost too secretive.
Has anyone heard what the MIP bonus might look like this year. They have not said either way which in past years they have given quarterly updates. This tells Me bonus will be good and they are keeping quiet to not upset those who were layed off.
Yes; that is correct. The earlier the layoff the less you will receive. How performance is figured in, beyond me? Assuming it would land at an overall ‘average’ performance metric.
so essentially mid March 2024 you will get paid a prorated portion of your bonus regardless of when you get laid off in 2023?
Any bonus we get will be paid out on the normal bonus schedule. It will be prorated.