I heard that since the 25th anniversary is on 2/10 and we’re getting an EPIC day, that they’re postponing mass layoffs until after that. Has anyone heard of something similar? If it’s going to be in February, would they still have to dole out bonuses?
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sigh... the end of the fiscal year is February 3rd, so don't expect any major restructuring on the GTM functions until after the year is wrapped up.
Bonus policy states that the person receiving the bonus must be employed on the day on which the bonus is paid out (past years suggest April 15th)
Bonus payout is at the whim of the management chain and can be between 0% and (for most people) up to ~150% of the target amount. Rarely higher, but 130s-140s not all that uncommon for top performers.
Unrealistic to "fight" bonus allocations. It's a bonus and not guaranteed money.
People who get RIF'ed may (if they are lucky) get some bonus and RSU vesting in their overall package, but none of that is guaranteed or predictable
It’s called “target” bonus. It can be 0 if company claims you are low performancer or bad revenue. Don’t take it for granted.
Would be impacted by the WARN act. If the notice is Feb15th lets say that would kick April 15th into WARN period.
Most places pay minimum 2 month salary and medical coverage because if the company gives you no notice, the "fine" is essentially equal to what they would have paid the employees anyway.
But if a big bonus period falls within that 60 days, the argument (legally) would be that the company did NOT pay out all the employees were due in that 60 day period, thus, they are more likely to pay out that bonus.
None of this is in stone. you can do whatever you want to do if you have enough lawyers and time to fight it.
Layoffs are usually done by eoq so they will likely finish up until Broadcom this week
I have heard the same. Bonus payments are given only to those who are on the payroll as of April 15 (US).