Looks like the package is different from location to location.
CA - 2 Months on Payroll + 3 Months Salary + 1week for every year in company + RSU + Cobra
13 replies (most recent on top)
Can some one clarify in SVL area what package was offered.
CA - 2 Months on Payroll (thats required it seems) + 3 Months Salary (whats this about??) i didnt get any offer like this. im told 9 week Severance for 7 years at netapp
I work out of RTP and have for just under two years (just missed a severance cliff). I haven't done anything since late February except screw around on the internet and do chores once we moved to working from home. I found out earlier this week that I was being let go like the rest of you. That isn't a surprise given that I haven't done any work and my management chain wasn't pressing me to either. I have 60 days of WARN notice plus a four week severance check, plus PTO and benefits and stuff. I might just let NetApp pay me not to work for the entirety of 2020 and start 2021 with a job hunt.
They can't vary the package by location. Think lawsuits.
WARN is in effect if you've been with the company longer than 6 months. So, that's 60 days still paid. That's law, not NetApp's generosity.
Then, severance is based on tenure, & vacation payout is based on unused PTO. (This is the reason, btw, that working for a company with "unlimited" PTO isn't actually a benefit for the employee. There's always a limit, you just don't know what that is, & it's based on your direct manager. "Unlimited" PTO exists so that companies don't have to carry the liability on their books, & hence don't have to pay you for unused portions when you leave.)
Health/insurance coverage continues thru the WARN period, then you can extend with COBRA (or go the private route).
You keep vested RSUs but forfeit non-vested RSUs.
Also, outplacement services.
Good luck all.
If you have vested RSUs, you keep those. You lose non-vested RSUs.
RTP is the same, except no allowance for tenure. Just 60 days on payroll, 11 weeks plus vacation payout, and cobra through January
Can someone please confirm the severance package in SVL? I understand the 60 days on payroll part but not sue the severance package. Thanks!
There is no special handing of RSUs or other stock. The package has 60 days of staying on the payroll for everyone, and if you have RSUs or stock vesting during that time, good for you. Otherwise nothing.
What's the deal on RSUs?
WARN rules vary from state to state. They're complicated enough that most companies have to hire consultants to implement these sorts of things.
Any info on Boulder packages?
Boulder 2 months on payroll plus vacation accrual and then cobra through dec 31.
Worker Adjustment and Retraining Notification (WARN)
each state has a site with info, for NC see
https://www.nccommerce.com/data-tools-reports/labor-market-data-tools/workforce-warn-reports
if enough layoffs happen in a location (either absolute # or % of people) then a filing will eventually show up. The filings show up generally 5-10 working days after the state gets them. Some companies (e.g. Cisco) are very good at being just under the threshold to require a filing for a specific location
WARN is a state/federal regulation that says with layoffs of a particular size employees need to be told or warned first. Most companies do not file a WARN notice until employees are notified, but then keep those employees in a non-active state for the WARN period. It why laid off people will stay on payroll for 30+ days before they actually get their severance. That is the WARN period.
How long were you there for? I'm a noob, just heard about WARN, and I barely joined the company. Would I be offered this if I get laid off too? My boss is acting ridiculously weird right now too.