Now that I read some of your terrible experiences on this forum, I'm happy that I didn't accept the offer here at the time. If I may ask, what kind of package did the affected employees receive?
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Ideal scenario for HR and ELT: everyone realises that the severance pay is bad now and that there’s no reason to stay. Mass exodus.
The only ones left will be those wanting to cling on until retirement, and people who believe that they’re unemployable on the open market.
And remind me. How many bright young graduates did we hire recently? How many new, hungry keen young engineers and team leaders, ambitious and wanting to make a great name for themselves in this fine new startup? Those are what we need to build an exciting future, aren’t they? Can’t beat the feel of a growing company, willing to take risks and be exceptional.
Yes, this is a great recipe for success!
In 2020 it was roughly 1 month severance pay for each year I had been there , early wave I guess. After the initial shock , felt pretty chipper , sinking ship and all ! Increasingly looking like the private equity based reality of life . Based on this thread looks like it is now closer to the statutory minimum of 1 week per year which Mrs T ( god bless you mam ) rammed through in the 80's. Tells its own story really . Man the lifeboats and bon chance.
severance pay communicated to me is 4 months subjected to tax cuts as per my tax slab. This along with 2 more months of salary is all i am getting for putting 15+ years in this company. Given the current market situation, unlikely to find a job soon. My new year is screwed.
A colleague of mine got a packet of crisps and a kick in the ba--s from head of HR. I think they're doing well.
One of the guys in my UK team got roughly 3 months tax free redundancy pay. He had been with the company for roughly 10 years.
Sadly the severance pay isn't what is used to be when we were Cisco. I wish I had been made redundant back in those days. Instead I'm now planning to get a new job in the new year.
HR Moonies alert