Understand its 2 wks per year of service but has anyone had luck negotiating beyond that? Do we know if they’re rounding up years? if you get laid off in the 9/24 round but your hiring anniversary is the following week?
All the WARN talk is confusing and not sure how/if you can use it to your benefit?
My story: HR wasn’t budging on negotiations. Cr-ppiest severance package I’ve ever seen at a company. In fact, now the worst company I’ve ever worked for considering how all of this was handled. Signed my paperwork so that I can move on from this place and forget this nightmare forever. Not spending a second more of my energy on this cold and chaotic place
For the person asking about RSU. I know in the past they were awarded (full amount of unvested) upon layoff so worth trying to negotiate that.
We are all under payroll until Nov 15 bc of the WARN act. Severance offered after that is either/both offset or not and has been scattered. Some getting 1 week/year and others getting more/less. Get a job before Nov 15 and you need to resign and lose it all. It's a terrible deal but haven't heard of any luck negotiating.
Nov. 1 as the date before severance kicks in.
At a previous employer the WARN act was enabled and notification was 3 months prior. We all just 'kept busy'. Severance package was base 2 weeks and 1 extra week for every year of service. I had only been there for 9 months so I was getting the base 2 weeks. My anniversary date was so close to the end of my severance period that I was contacted by HR and informed that they were legally obliged to extend my severance to my anniversary date and therefore (since it became 1 year) I got 1 more week of severance and my healthcare coverage also extended. Since currently there has been no WARN notice this may not apply, but I'd definitely bring it up during any exit interview.
@bkr+1u1xZQCi are they paying your salary until Oct 18th + providing severance?
Just to be clear on stock options. You lose all options that are not vested.
From my understanding, this is my Interpretation of the WARN ACT Notice Period. My last day of work like many others is tomorrow Friday, Aug 16th. The key detail here is whether the period until October 18th (separation date) is considered part of your notice period. If your employment and benefits (like salary, and health insurance) continue until October 18th, this period may be counted as part of your 60-day notice, assuming you will not be required to perform work after this Friday. This arrangement could potentially satisfy the WARN Act's requirements if it was explicitly structured as such and communicated clearly.
However, my question is how many weeks of severance is it per year? I've seen 1 week and 2 weeks thrown around. I've been with the company for about 4 years and 2 years being salaried staff and got low balled on my "severance" after Oct 18th (My separation date)
You have a better chance of seeing Christ jump off the cross then negotiating with HR
HR=Neither Human or resourceful.
I was wondering the same about the RSU. Not that the stock is worth much. I remember the days when I sold some in the high $60s. Pathetic.
Anyone hear success stories in severance negotiations?
The person who said about RSU, can you please clarify what would happen to the unvested portion of the RSU? In most cases, afaik, the unvested RSU will be returned.
You will not loose you RSU upon being let go. The only time you loose you RSU if you quite.
Also wondering what happens to your unvested RSUs? Do they instantly vest?
Does anyone happen to know if your service time as a consultant/contractor is counted if you were converted to a salaried employee later on? I assume the answer is that the contractor service time is not counted.
One of my colleagues was offered 13 weeks even though they’ve been at the company for 11 years. Another noticed that their number of years of service was incorrect. Have heard similar stories rumored for others. There appears to be many mistakes and some low balling going on, sadly but not surprisingly. Everyone, please review the paperwork carefully before signing anything.
I also don't understand whether the 60 day minimum is 60 days from the final work day or 60 days from the separation date. I'm assuming the former, but would appreciate clarification.
I would love to know the same!
Do not sign anything less than 60 days. Call a lawyer if they won’t budge less on less than that. Paramount will have to reimburse you for the lawyer fees. I’ve been through this before, they are required by law to give you 60 days notice. They didn’t.