No, the company shortened to 60 days to match the WARN Act by law. There used to be a MUCH more generous amount of time to find a job internally.
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Following is my experience.
Was given total of 4 months. 1 month to close all projects and 3 months of Talent Marketplace. Someone from the Talent Marketplace was assigned to me and tried to setup few interviews. I also have been told that I had to accept offer if new salary will be more than 90% of my current. I wouldn't get my package if I refuse. Funny thing after 3 month of unsuccessful internal interviews I got an offer for the new position within State Street day before that 4 month period supposed to end.
The Talent Market Place is just another company pr stunt to make the U.S workers think the company is trying to help them out.
Do not believe it, its just another company con.
As I have said the company has been laying off U.S workers and replacing them with
H1B workers from India for the last 18 years.
How many U.S workers actually are lucky enough to find a job through TM ? hmm maybe 10%, 20% if they are lucky.
I'm pretty sure it's 30 days to wrap up role, and then 60-90 days depending on role maybe? For me, I got the "good news" in early December, rolled into TM at beginning of Jan and then I was there until at least early April. So it probably depends on your role.
Best you reconcile with the fact that they want you gone - Odds are you won't be offered anything else and they'll just deny you any role you apply for with similar pay/prospects. So just collect your pay, take advantage of your separation benefits (Including the job search/resume prep coaching) and get ready for your next gig. You'll be happier and better off in the long run.
If you had meager un-vested bonus paid for performance in a prior year do you get to keep it when laid off ...or is that taken back by SSC. I believe some age considerations are applied (>55 or less) but not sure of the policy. If someone knows please opine.
Originally, if you were in the TMP and you received a job offer, it had to be within 10% of your current pay. But I don't know if that is still the case.
STT just had a bunch of layoffs, it's 60 days in the talent marketplace and if you don't find a job you get your severance package. Not sure how the talent marketplace works, can they offer you a janitor position at $18/hr and if you don't take it you forego any severance? I would have to think it would be a job at or above the same level when laid off, but I wouldn't put anything past this company. Was there 20 years and have nothing to show for it, many of my colleagues who stayed just got laid off. Get out while you can!
@Post ID: @3uem+1pL9d9wx
You are given the option of taking what ever job is available, they do not try to find you a similar job with the same pay.
Does Talent Market place always try to find a similar pay grade role in State Street for you? Or they just send you some generic documents and then you are on your own?
My boss was hit earlier this year and had a split of 30 days in the normal role, 30 days with reduced access, then 30 more days with only skeletal email access. TM didn't work for him (which seems the norm, though pre-COVID I know some laid-off SSGA people who found roles). He found another role almost right after it expired.
Post ID: @OP+1pL9d9wx, your Talent Marketplace point of contact should have given you an end date, what I have heard it is between 60 to 90 days depends on state laws etc.
That’s what I have heard. However, not sure how much life the TM has left.
Couple people were added to my group earlier this month. None of them had a say in it.
Was a take it or leave it offer.