It seems that it is some kind of trend now that almost everyone says that they are not worried and that they would even like to be laid off. Really? Would you really like to be laid off? I'm sorry, but I'm not buying those stories.
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Hey genius, those of us that are more than happy to be laid off if it happens, have been doing things right for years. In my case approaching my desired retirement age as well. Saving. Investing. Setting the foundation for the highly probable layoff. After more than a decade at Citrix, I have been spared from many rounds of layoffs. Maybe because I am also good at what I do, and I work well with others. Just because you aren't ready to be laid off, doesn't mean that many people aren't either.
During the past 25+ years I have also built a great professional network and have multiple companies ready to hire me. I just need to pick one and call them.
Grow the f up.
Zero chance a non-compete clause would be enforceable if it means you can't earn a living. You're a salesman, then yes, they don't want you stealing customers. You're a programmer, it's absurd to think you can't get another job as a programmer. That is not how it works. No judge would ever enforce a clause that prevents a person from earning a living.
For those who are so keen on your redundancy packages .... check your non-compete clauses from the employment contract you initially signed. Long term employees with redundancy had best get used to the idea of flipping burgers because you won't be able to work in the current capacity or field for 12 months ..... so yes the 20 weeks pay is to tie you over for 52 weeks. And watch out for the 20 weeks pay because in some countries that excludes you from unemployment benefits for up to 3 years...... just some points to ponder!!!!
The merger agreement doesn’t make the details of the Citrix severance policy public. It only says the new company must honor the current severance policy for 12 months after the merger, and refers to a particular section of the (non-public) disclosure document given by Citrix to the buyers when the merger agreement was made. There’s no real way to know whether “6 months pay” is what severed employees will actually get.
Thanks for that information!
I hadn’t heard that the new company would have to honor the current severance plan, so I looked it up. Top of page 64 of the merger agreement seems to say just that.
https://www.sec.gov/Archives/edgar/data/877890/000119312522023498/d273843dex21.htm
The severance package terms are in the filing that was submitted when the deal was consummated. It’s publicly available. Anyone severed would receive the same terms as Citrites laid off last year.
At the last Citrix layoff, the severance was ~6 months pay. Not sure how, or if, that will change this go around.
I don't think it's six months' pay, though. If they use the TIBCO model which is cheaper, it's one week for every year. If you know any Citrix people who have just been laid off, you could maybe ask them what they got.
Yep that's me. I'd be happy to get ~6 months pay from Ctxs and then hop over to a new job within a month.
Depending on one's skills, getting another job might not be too hard, so a layoff means you get severance AND you get to start another job. Those are the people who want to get laid off. Of course there are other people who want to keep their jobs.