I am looking for a new job and it is in my interest to get it before I get laid off because my severance pay would not be large. But what surprises me is that many who would otherwise get a big severance payoff are leaving as well? Why leave this significant sum to the company?
11 replies (most recent on top)
And if you ignore Wall St. your stock price suffers.
You punched that nail in with one hit. Those same analysts who never set foot in your operations, wouldn't know how to manufacture or create/maintain your product from a bodily orifice suddenly become experts and give you direction OR ELSE.
Wall St couldn't give a flip about long term health of a company, they only care about short term gains.
And if you ignore Wall St. your stock price suffers. Which is why I snicker when people here talk about enlightened and progressive employers. I've never seen one. Sure, some are better than others, maybe they have a profit sharing plan, or are generous with the paid time off; but at the end of the day if the Wall St. analysts say you have too many employees, then you have a layoff. I still remember when HP laid off half its IT staff to please Wall St.
I saw 3 LonG term servers leave last May - before their Q4 bonus!
Stock went up following announcement…
Because stocks always go up after a layoff. Wall St couldn't give a flip about long term health of a company, they only care about short term gains. If you listen to Wall St, odds are you will run your company right off the cliff.
I remember when Wall St told McNealy that "they'd better start expanding and fast or chances are the stock will get sold off. McNealy listened. Then the .com bust hit. The rest is history.
Follow what you think are the best interests of the company as a whole, not some Wall St Speculators who often blackmail leadership into doing things that benefit THEM in the short term but hurt business in the long.
Because it is better to leave on your feet than on your back. You don't turn down a great position on the speculation you MIGHT get a fat severance.
HR is back trying to defend the use of the guillotine so they can get a head.
Oracle’s a huge company. We’re either already in a recession or on the doorstep. I know it’s been a long time but almost every large company trims its workforce with a recession imminent. So while it’s of course unfortunate for those affected, it’s practically inevitable in the business world. It’s just a fact of economic life and doesn’t make a company “good” or “bad”. (Stock usually goes up due to improved “efficiencies”..). Microsoft announced they’re laying off 1,800 people, and that doesn’t include the other 300 or so who were stealthily let go before. Doesn’t make them evil. (It’s other things that make them evil :). Stock went up following announcement…
I think my max severance would be about $50k before all the taxes (est. 50%), leaving net $25k. Not life changing, but not chump change either. It really depends where one is with career, goals, life. If Oracle no longer wanted my services, it will be their lose; I’ll take the $25k and find the next gig.
People that build wealth would never make a remark like that.
Exactly he might wish one day he had
25-100k
$25k-$100k? Not generally life-changing sums for most folks. It 'could' be, I suppose, but it generally isn't. Life is too short to hang around for something like that when it isn't even guaranteed.
Because this place is a garbage heap.