59 PL Here - It is today! - STS PL and just got off the meeting.
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Just got informed my position eliminated. 58 IC STS
The rules and stipulation of the severance and bonus will all be in Writing in your package. Read it carefully
I just got the hit, too, and am rejoicing.
Finally!
I got laid off from Charles Schwab today Oct 29 2023
I got laid off from Charles Schwab today Oct 29 2023
Was laid off today but I was told i had to still be with the company until Dec 31 via the notice period or would not get the bonus. So if you get a job before then, they won’t pay it out. My manager also said to expect that it would likely be a fraction of former bonuses anyway
PL59 here too. Got the call 8amET. I’m taking it all in. Planning the next move but for now taking a much needed sabbatical after working everyday for the last 20+ years (sans the occasional week for vaca) the severance is generous. Cobra paid for and bonus. I’m grateful.
For your bonus payout, did you get the full ABO amount (minus advances) or was it whatever the current percentage is calculated at? Or was it "wherever we're at to close out the year, TBD"?
Yep we were just told about people impacted from our group
Bonus Eligibility - will it be paid out at the end of 60 days with your severance?
@bmk+1plHy0X9 for severance info, you need to go to the HR portal and search for "severance". It has all of the info you seek there.
WAM meetings are ongoing now. Interestingly some messages to 59 are delivered by MD and not Director
@OP where did you find information on the severance?
OP here. They also let one of my "former" IC go as well.
On a side note the Severance for me is exactly what HR shows + Bonus Eligibility
Thanks for confirming OP! Best of luck!