I only see the severance package being offered to VPs and below. Is there any sort of similar options for SVPs and above? Or would they have to leave without a package if the RTO doesn't work for them? Just curious.
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Who gives a sh-t.
@ae not true
@dm Some SVP are under contract and a lot of EVPs are under contract. There are more without than with. This started right after the Viacom & CBS merger happened. I am a SVP and we talk to each other about it...but yes the buy out for a SVP regardless is normally a full year of severance. Same for EVPs unless they are under contract.
SVPs and EVPs are under contract, so they do not have the option to opt out of RTO or accept severance. Regardless of their preference, they will be required to return to the office.
@bd don’t be dense.
@ak Viacom has not existed in 5 years. Those contracts are dead.
@ae Viacom SVPs have contracts, as do select important VPs
@av that’s exactly what I said below.
“RTO applies to everyone – including SVPs and above. The severance opt-in program applies to VPs and below.”
Hope that makes sense.
I asked a few svps and none of them have been asked whether they will stay or go and none of them received the email to opt in or out. If they are subject to it, it must be a different timeline.
@ad HR what? …Coordinator?
You either misunderstood or are trolling. Read DE’s email. Where does it say SVPs and above are excluded? It’s a company-wide announcement.
And why on earth would SVPs and above be excluded from RTO? They’re not special. They’re just as at risk of getting laid off as the rest of us below them.
@ae most ex-Viacom svps have contract's
@ad No way you are in HR. SVPs and above are part of RTO but have no eligible package out option. I have confirmed this with HR
@a7 Most SVPs do NOT have contracts, but all EVPs do because they are required to.
@a4 lol look who is spreading bad information? SVPs and above are NOT part of RTO at this moment. I am in HR
They get a year's worth of their base pay as severance, so more than you and I for sure.
SVPs have contracts that cover separation payouts.
I don’t envy them. They seem to get no information from above and have to deal with the fallout directly. They can’t even opt to drop out and now they have to figure out how to deal with hitting goals with fewer employees, less motivated employees, angrier employees.
@a2 Not true. Stop spreading misinformation. RTO applies to everyone – including SVPs and above. The severance opt-in program applies to VPs and below.
SVP and above are not part of RTO at this point. I assume that will come once they handle the culling that is going to happen in November.