People told today that their last day will be March 31. Multiple departments affected by the layoff.
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If you think the over 50 white male is being targeted I think that's basically most of the population at Lenovo.
I am so glad that I left Lenovo back in 2017. It was tough at first, but I managed to get a new job. I was 49 a the time, but Lenovo targeted people with 15+ years with the company... If you are still with Lenovo, try to find a new job elsewhere.
At least you're getting severance as a Lenovo employee; CTG contractors get nothing and the Lenovo managers and directors often choose to layoff the contractors before the end of the month, so you don't even "earn" vacation/ PTO time for that month.
Does anyone know about bonus payout timing? Is it in June or will it be the same time as severance?
I'm from corporate strategy and our team - we are part of it. I was informed on Feb 28 (1on1 with HR). our last date is Mar 31. and one week * 6wk - 26wk severance package.
there were a lot from ISG too ……
So far I’ve heard rumors of SSG, IDG, and DT but not confirmed. Odd because the rumors for months were all ISG but haven’t heard of that. Sounds like this week we may know more.
There is going to be a virtual information session on Monday (I’m east US based). We may get more information on the scale of the layoffs.
Same terms as others, including the bonus.
Lenovo layoffs (from IBM) has always been 2-weeks for every year of service capped at 26 weeks. There is nothing different. If you want to see what it really costs to get rid of you, look at the unvested health account. For most people the amount there will be close to the severance. So, in the end it cost Lenovo nothing.
I don't know how this is not a surprise to anyone. If your nose is not perma-stained brown from your manager, you are a target. Previously, it was a bit easier to tell who was targeted. Now it may be a little different.
#1 If you moved jobs to Lenovo during the lack of tech workers in the early 2020s, you were hired at about 20-25% over market value. You are target #1.
#2 If you are a white male near or over 50, you are a massive target
#3 There are random agenda groups after this point, usually younger workers to offset the age for layoffs to be around 38-42. They don't want the class-action that IBM could be facing. And yes, these companies do hire a group of young workers, probably remote, about 3 months before the layoff. Target all of them to drive the average age down. IBM did it for years and Lenovo learned from it.
Pleas tell us your role and division if you got hit. Thanks
Severance is the same as all previous years. One week of pay for each 6 months of service, up to a max of 26 weeks. In addition, June bonus paid out at 100% with 100% performance factor assigned to business unit and the individual.
Last day March 31st, and I’m getting 6 weeks severance. According to the documents, it’s 2 weeks severance per year with a maximum of 26 weeks, but I’ve only been at Lenovo for a little over a year, and 6 weeks is the minimum.
So what groups are confirmed? Is it all BUs at this point?
What groups are affected? Is ISG laying off?
So do they give 2 weeks for every year up to a max of 26 weeks or just 4 weeks?
Was IDG hit as well?
I am also on the list. And my Severance is only two weeks for each year. Cannot believe it is even less
DT is included. Severance is a joke. 1 month for each year. shortest package ive heard of personally.
I found out this morning that I'm part of this - can confirm last day of March 31. Not sure of numbers. Severance is being offered, but duration is not long.