If you are placed in a “transitional” role during a reorg, do you know if you will still be offered a severance after the termination date?
10 replies (most recent on top)
@jzgk: If it has been granted, they roll it all up and give it to you all at once. For those at more Sr. levels that is a big plus in doing an EOI.
For those who have been fortunate to receive LTIP or expanded LTIP, does anyone know if unvested stock is typically awarded (i.e., vesting periods waived) during layoffs, or do you leave with only vested stock?
This is yet another example of how leadership just needs to give us some answers!!! Ge-z.
Basically just say Yes. Then begin the fun...
Yes you will get a severance after being placed in a "transitional role" if your employment ends with no offer of a position. That said, if you are offered a position during the transitional period, any position, and you decline to accept that offered position, you will not get a severance. So if you are offered a choice between being left standing with severance or a transitional role think carefully because you might be offered a position you think undesirable and then you are out the door with no severance.
Traditional standard severance that is offered to people “left standing”
Not unless it’s an official layoff where your are told it’s over.
The severance for the layoff event about to happen will be good until end of 2025 so plenty of transition time.
@pos doesn't know what they're talking about. I know multiple people that were in a transition role in the 2020 layoffs. Yes, they got the severance package. There was a hard date they had to be out by but they did get the package.
"Transitional role" means that job is disappearing, or responsibilities wrapped into someone else's job. You're basically out the door, sooner or later. If you're not part of the official layoff, you're not getting a package.