I have 6 year of service and Viasat pays me 5 weeks pay at my current base salary rate. Is that reasonable? If I want to negotiate for higher package, who I should talk to?
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I think I figured out their formula. Minimum of 5 weeks otherwise it's 1 week per year minus 5.
You are NOT entitled to severance. Nothing to negotiate. This is optional for companies in most states.
It’s take it or leave. Sign the papers and sign away any rights to get the measly severance or don’t sign and try to use a lawyer if you think you have grounds for lawsuit like age discrimination.
I highly recommend contacting an employment lawyer if you can. It is a legal contract so at the very least you'll want to be sure of what rights you are signing away.
I got less than 1/2 week per year of service >:-(
I'll be attempting to renegotiate
Speaking of severance packages...
"Mr. Gowrappan shall be entitled to receive (i) a lump sum cash payment equal to 2.0 times the sum of his
annual base salary ($1M) and target annual bonus ($1.4M), (ii) continuation of health and other benefits for a period of 18 months following the date of his termination, and (iii) full vesting of any outstanding equity awards."
For comparison:
Google - 16 weeks plus additional 2 weeks for each year of service. And 6 months of healthcare.
Charles Schwab - 10 days for each year of service
Microsoft - "above-market severance pay,” healthcare for six months and career transition services
Qualcomm - Ranged from 2 - 8 weeks base depending on job level plus 2 weeks per year of service. Cobra coverage thru time of severance.
So yeah there you have it.
Hopefully you didn't sign up for the Flexible Time Off bull sh!t. If you have some vacation in the bank it helps.
Wow... I wish it was this:
"It’s not automatically eight weeks then one additional week for each year of service? I thought that was the deal from the previous layoff. Is ViaSat getting cheap?"
Not even close.
I thought they’d at least take everybody through new years. Talk to a lawyer
It’s not automatically eight weeks then one additional week for each year of service? I thought that was the deal from the previous layoff. Is ViaSat getting cheap?
A lawyer