If late September is when we get notified, the current deal is that we then have to work 60 more days, our November RSUs vest and then get 60 days severance plus 2 weeks for every year worked? Is this what everybody is hearing?
8 replies (most recent on top)
It's all peanuts when you consider 20+ years of some meaningful contribution to the bottom line. Payday has to come some day, don't you think?
Layoff packages tend to decrease with each successive layoff, so I would expect the current package to be less generous than the previous one. I also think there will be latitude for the SVP of a unit to adjust some packages down for multi-decade employees. Pretty expensive to send someone walking with a years pay.
What is standard?
What you describe is what those got at the end of 2014 that were laid off. That is why that is what people theorize/claim is coming now. The 60 day thing is for sure though, go/realignment.
I think some think some temps have already been notified, but I don't know the details.
Why would ppl voluntarily leaving get a package? They moving to better jobs. Which team did you hear of?
I know some people who have already left the company and they received the standard severance package, plus a lump sum for health insurance. I think that that was around $800.
If you are impacted, details of your severance will be provided at the time of notification. That's what everyone is hearing. Anything else is just daydreaming.