What they are doing with severence is shameful, as is what they have done with the pensions before. However, nothing surprises me anymore. I stayed here a little longer, just because I was waiting for severance, but there is no chance that I will agree to stay under these conditions while I wonder what benefits will be cut in the future......
Here is my severance pay, let them have it, I'm leaving. TR is not the only company in the world.
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@5vgc+1a3j3uBr it's not a case of "will" lose a lot of talented and knowledgeable staff in the process. They've already done so since 2018. An absolutely clueless management who are obsessed with cost cutting to line shareholder pockets. The problem is that this can't continue for too long - but they haven't figured that out yet.
@5vgc+1a3j3uBr - I agree. The intent all along has been to reduce costs related to having long term employees, including now on the back end when they've decided to cut you.
With the suggestions that Severance will be cut people will seek news jobs and most will probably better themselves.
Yes - TR will get its wish to reduce funding for severance payments, but it will also lose a lot of talented and knowledgeable staff in the process, which will have a significant impact on its business.
It shouldn't come as a surprise that a lot of people are actively looking.
A comparable job doesn’t need to be at a competitor for it to be deemed comparable (the noncompetes are notoriously difficult to enforce). This new clause gives TR a lever to curb the financial severance hit they take every RIF. A lot of RIF’d folks leave and land good jobs fairly quickly.
This comparable clause encourages people to not wait around for severance because it adds uncertainty. If my role is cut, then like @1auy+1a3j3uBr I'll just take some time. If I find something new and better first, then the severance package is more of a non-issue.
If this is the case there is no incentive to find a job during the severance period. Why would they put shackles on you like that? They are making the decision to terminate and lieu of any potential litigation for whatever reason, you agree to a severance package. This doesn't make any sense, is it possibly a comparable position in a competing company? If they are paying a severance, they can ask and expect that you honor the non competes, if they are in place.
I think the only difference is now if you find another job before the severance is over they will end your severance early. So it brings up how will HR monitor when employees get new jobs or at time of termination perhaps employees have to sign a document agreeing to telling HR. Personally I plan to take a break for awhile so for that reason don't care too much about the change.
Mayb the HR ladies who troll here can advise.
Where is all this new info coming from? Was something posted? If possible please post the new severance agreement, I am thinking people are reading it wrong. Although TR has no loyalty to its employees, the one thing they had was a fair severance package.