And if not immediate how long is the transition period so far?
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Can you negotiate the severance? Instead of 2 weeks got 1 week only… wonder if anyone had a similar situation
Immediate for most. Some have transition time of a few months and severance is contingent on that. Package is two weeks per year up to 52 weeks max, including most (but not all) benefits. Bonus eligible people still get 2022 bonus based on team score.
Should be interesting since most bonuses last year were in the 125-200% range. I know they’re calling this “simplification” but look for similar roles to open shortly in India and Mexico at lower levels. Also be watching for more layoffs through Feb for “this round”. It’s not over yet.
1k3cbSXd, first off I am very sorry you are part of this. With that said, how was it better? VRB was 2 weeks per year with a max of a year.
I hope those who have to leave are fairly compensated at all levels.
Do bonus eligible employees get YE bonus?
Do salary employees get stocks?
I’m not at those levels to know this and I don’t mean to be insensitive to those impacted.
Average of 30 weeks severance is what I heard
Well it depends on how you look at the voluntary retirement packages. You get 2 weeks for EVERY year. The VRP’s cap off at 1 year…. So NOT 2 weeks for every year. Right there it’s not equal. Then you are young enough to get another job. At 55 you can’t get social security and no one wants to hire you….better? Not quite.
Same, my last day is Friday.
There is a severance. 2 weeks pay for every year. The voluntary retirement offer was better- my termination is effective Friday