Has anyone emailed P&C about this so called "incentive" about changing careers or early retirement? I am curious as to what incentives they are offering for folks volunteering to resign.
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actual number would be lower than 4.5% imo...
So R.......a just came out with an update. 4.5% of the emp base has volunteered tribute. That comes roughly to about 300 heads, based on previous maths I expect a total need of 600 maybe up to 900, definitely more heads to roll.
But isn't this all just f'ing random. Wouldn't leadership facing existantial issues sit down and do the hard work of deciding which businesses are important and which have to get thrown off the lifeboat and hence decide those are the heads needed to go. Maybe reshuffled heads based on that biased towards the winners to keep, but take active decisions nonetheless that are tied to the outcomes you want instead of seeing who'll voluntarily jump ship and then see if you can sustain your business.
It's all so sleep-walky
should of acquired OneWeb...
Inmarsat, Viasat are bleeding out together regardless =]
Inmarsat should have acquired Viasat we would not have been in this awful mess, simples.
Legacy inmarsat/viasat is used to distinguish whether someone previously worked for "Viasat" or for "Inmarsat" before the merger.
What kind of id--tic term is 'legacy Viasat' anyway? Companies that acquire other companies don't become legacy. No wonder this happened and the company is lost. Self fulfilling prophecy.
Odd decision making process. For past layoffs they bush wack you and escort you out. Now they give you 6 months to slowly steal whatever IP you think might be useful.
never mind, figured it out. Legacy Inmarsat, Legacy Viasat
What are LIST and LVST?
I’m thinking this is targeted for long timers at LIST. They have a much better deal overall compared to LVST. Every other Friday off, all federal holidays, etc. Did they mention how long COBRA coverage would be if one took the deal.
I would consider the package from the calculator if the departure were in August.
It's not enough to go through the motions through Thanksgiving (at least).
A buddy formely at Q who took their voluntary severance about 1-2 years ago shared some comparisons. With 10 years of service at an ASIC director level he got:
- 2 weeks per year = 20 weeks severance
- Additional 20 weeks severance for level and management role
- Cobra for 18 months
Now that is a worthwhile offer to think on. Feels like Viasat will struggle to get enough takers on their "enhancement".
Wow...you get a severance calculator now?
I have a question about the VRP.
So is the payment 4 weeks of pay in addition to what we get out of the severance calculator or is it just whats in the severance calculator?
Is the target dollar number 100M again? That was 800 heads last time around.
Severance package last time around was 8 weeks + 7 weeks + vacation bank for 12 years service.
Save your vacation hours.
Agreed they won't get enough takers on the voluntary thing because the enhancement isn't enticing enough, this is more of a loyalty test. 900 is from an earlier post "check da compass". However that feels a bit high, my math on the target dollar number takes me to 300-600 heads. While either way it's large, they'll need to go to another involuntary round to hit their number.
How do we know the target number is 900 job cuts? Where does that come from? They already laid off 800 people last year.
They will need 900 volunteers to avoid an involuntary RIF, right? Skeptical they even get 100.
If you actually worked for the company you wouldn't be confused. Log off.
Hiring freeze and volunteer separation. Abysmal stock price. Sounds like things are going well. A company in decline.
@vxw+1tiI9Tch is correct, I ran the calcs for myself and see the same output. A "normal" layoff of the magnitude needed to hit their goals would trigger the WARN requirements for California workers. This means the baseline will be 2 months severance, so the voluntary action adds 1-2 months severance on top of that. All depends on your situation if their offer is interesting or not.
The incentive is 4 weeks more than a “normal” RIF, which they don’t publish the severances for. This voluntary thing is approximately two weeks of pay per year of service. Managers get an additional four-week bump in the payout for the virtue of being managers.
Check your email. It’s all on Compass.