qc will announce its list of employees mid sept, and they will have until mid nov. if i find a job in 2 weeks after my name is up will i be able to burn my vacation till the actual date while working for the new company? so i can still get severance package. can you please share your knowledge/ experience?
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Not necessarily. I was in the 12/10 layoff and I had the option for "early termination" during the 2 month warn period. It allowed me to leave before the 2 month period and be compensated for the 2 month period and receive the severance. However, not everyone was offered this option. So don't burn vacation, that is valuable as you will be paid out on that; unless of course you are not provided the early termination option.
As well, I did overdraw on my FSA as stated on this thread... it paid for a backup pair of glasses. However, I got a notice later that disqualified me for cobra for having a negative balance on the fsa. Which I didn't care since I moved to my spouses health plan. If you have a job this will not be an issue for you.
Short answer No. If you get a job next day after your layoff and if you join the new company, you'll have to leave QC. QC will pay your severance only if you remain employed till the last day from notice start. If you break that rule, say goodbye to your severance. I know some folks who worked out a deal with HR but that's per case basis. I also tried and they basically said, take it or leave it. Just chill and try postponing your new company's joining date...take a vacation! QC will pay your salary until notice last day esp. to do nothing. Tip: Don't use your vacation hours as you can get that paid in full when you get out.
RE FSA Card: Yes, the card is paid up front for the year; but if you use more than you've paid in, QCOM gets it back. Read the info.
Of, and if you do get RIFed make sure you burn through your Flex spending accounts. You know the accounts that hopefully you maxed out on, but havent finished contributing to. Since you wont' be around to pay off the remaining flex spending balance, anything you spend above what you currently have already paid off is on Q's dime too. Make sure also you when you do use your insurance, it's also still on Q's dime. (Q self-insures....)
Technically, no it would be against company policy. But what are they going to do. fire you? As long as your second job is not a direct competitor, you really have no issues. Especially if you don't have plans to return back to the Q in the future. Just don't tell people what you are doing. How well you can pull this off depends completely on how well you can keep a secret. And it will matter more to your new employer than the Q. You don't want to be fired from your new employer because they found out. Many of us did this before. I myself took a 1 1/2 month vacation+work from home starting in december until mid january at a few years ago, when I already joined my new employer