Fortunately I left on time because I hear TR is now lowering benefits and severance. Is that correct, I would like someone to confirm and give me more details? It wouldn’t surprise me at all.
Severance was the only thing that was good in this company lately. It would be a real shame if they decided to change their severance pay policy.
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What happens if we don’t tell them that we found another job?
What positions are getting severances out this Summer?
It's not just a November thing anymore. Have been there over 15 years and have been in recent management meetings about positions being cut, consolidated, moved to India and the Philippines, etc Several of us were informed our positions won't exist in the new org structure. Many will be severanced out this Summer. They're not waiting until November, but I imagine there will be more then.
From what I am seeing, they are letting go some upper managers now and replacing them with managers in other countries. They will have layoffs as normal this November but I think the major layoffs in the U.S. will be in 2022 and 2023. It is clear that MSP presence will dwindle.
To @dhjg+1a8ITXIo,
Thank you HR Lady. Your missive was written in the corporate drone voice.
I feel bad for the innocent people who are stuck but I can’t feel bad for many of the sh—y people. The “ business” decision when they chose who they laid is laughable. They kept their friends instead of hard workers and HR is so incompetent and disrespectful.
@dhjg+1a8ITXIo - It isn't just "policy" to tell them. Expect to see the requirement in the documentation you have to sign in order to get the severance package - the same way you accept the severance instead of suing them for some other claim. And, you won't see a dime unless you first sign the severance documents as is, no negotiation. It may not pay to chase people who have worked there for 6 or fewer years because finding a new job could easily take 12 weeks. But this really hits people who worked at the company for 10, 15, 20 yrs. There are people who have worked at the company for a very long time, in part because they knew that if they were laid off they would receive resources while they looked for the next position. Now it is an either-or - if you accept that new job, but it costs you 3 or more months of severance, there is a financial penalty in going back to work. If you have an offer in your field, it almost feels like a non-compete. Say for example you are in sales, you worked there 6 years, you get 12 weeks. But you have a connection at another company that has a standing offer for your role, and you can start the next day. And let's assume it is for a competitor. You have to decide to not receive severance and start working, or you don't work and collect severance until you can work.
If you are reading these pages because you are considering a job offer, then you may want to think about two things - the way this policy is written and its possible consequences if you join and then were laid off, and then this - if they can write this kind of policy, what other policies will be created that negatively impact your career and your financial security.
Seems like they are putting faith in the honor system, isn't that ironic. An extremely unfaithful and untrustworthy company hoping you are open and honest with them. Obviously for all that have secured another opportunity, don't post it on Linkedin or be public about it. Really hoping they have better things to do rather than play detective and try to locate ex employees whereabouts, but I guess it will give HR something to do. If someone can tell me what they do, besides putting together folders with termination / severance papers, I would appreciate it. Oh, they also bury info/complaints against certain people, until they need to use it against them.
All they changed was career services are offered for a shorter amount of time. And it’s an official policy that if you get a new job while being paid severance you have to tell them and they can stop paying. It makes sense from a business perspective and it just is what it is.
Just left too. What a mess
Just watch, they are leaning on the Performance Review cycles and PIP's to expedite this before November. I think this November will be the cherry on top after they purge as many as they can prior to then. They have to be saving quite a bit in T&E related costs, can't believe they are resorting to doing this, if the business is healthy. I have seen them get lean in anticipation of attracting buyers to specific parts of the business. With TR, anything is in play, it is sad, very underhanded,
It’s obvious that they have something prepared again for this coming November.
I just found it interesting that they decided to talk about severance so early in the year. Makes me wonder if they have another bloodbath prepared in November.
Main change is if you find another job your severance ends.
They did change it