Laid off in December with 90 days non working period pay, bonus, additional 3 months severance and also 7k cash payout to purchase health coverage after 90 day period.
Officially hired elsewhere.. Double dipping on GlobalFoundries dime.. yep. The best part is I’m still getting paid biweekly from GF until March. Then I get the severance payout. They should’ve kept me on, they could’ve at least got some work in return.
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Managers who advised people that they would loose their payment if they worked have no clue, just like normal.
I just reread my package and it does indeed say ALL payments will be made with the exception of bonus. Still need to be low key though.. huh
the paperwork said if you quit before the termination date they accelerate all the payments (I understood that to mean you get all severance and 90 day notice pay). If this is before date of applicable bonus though you will lose all bonus payment and you also obviously get paid less vacation time as you accrue less
They won’t know. Don’t update LinkedIn or Social Media until all payments have been collected. I did this with GF in 2018. Besides, the only thing that would be affected would be the 90 day non-working period payments and you’re already a 1/3 of the way through those. All other severance and bonuses are paid in full. GF did you dirty, do not feel bad about getting every damn dime out of them. Good luck! There is life after GF!
I thought this was the case too. But I was also thinking how would they ever know??
I believe the package did say in fine print something about losing some of the package benefits if you took another job before mid-March. But I wouldn't worry about it, just don't announce it on LinkedIn or any social media platform. GF HR is so useless they will never know otherwise. In today's semiconductor world there is no long-term careers so go squeeze every nickel you can out of GF and double dip, hope everyone who was impacted can double dip!!
Good for you. However you may want to read the fine print. If they find out you will lose your severance. This was gone over in the multiple manager meetings prior to the resource action.
They say if we find another job they move up termination date and pay out everything except bonus depending on when last day is but their hr doesn’t write back to anything to begin with for terminated employees
@qqn "Left in 2013" hahahahahahahahahahahahaha
Stunning and brave.
Good for you. For those who have been let go, there is definitely life after IBM or GF.
cool story bro