We know there were small cuts yesterday, has there been a continuation today? This is outside of any major layoff announcement so it's hard to get any info on it. It's sad that our management offers no information and we have to turn to anonymous pages like this to find out what's going on, but it is what it is.
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The post about warn and severance is correct. You will all receive Mip (if there is one). Mdt does layoffs tues-thurs. you should also get outplacement.
Layoffs will be done by April 30.
I am retired and worked for mdt during the Great Recession when they did layoffs all the time. But they used to announce how many they were going to do.
Good luck to you all
Any more updates on OUs / regions being laid off? If you do get the WARN for 60 days does that mean your employment ends that day or 60 days out? Asking if MIP would be included considering you have to be employed by April 31rst? I'm assuming no but haven't seen the t and c's.
Coach wants to see you....bring your playbook.
Voluntary separation offers?!?! Where have you been lol, they offered early retirement now it's on to the axe
Any word of voluntary separation offers? Or straight to rif this time?
@the person asking about how it works. WARN requires MDT to provide 60 days notice of the pending termination/layoff during which time you are still termed an employee, but for all purposes you are done. During this time, you are paid as if you are working, but you aren't. If you are able to find a new role in the company, great, its just like you transferred and nothing happened. If you don't, then at your 60 day notice date (most people from the last two days would be ~5/15 or so), you are terminated and no longer an employee. At this point, you will receive the agreed severance (including paid out PTO, less taxes, etc etc), and off you go. However, if you take a job back at MDT at some point before the severance time (if you calc the weeks out) runs out, you would potentially owe back some of the severance.
So in reality, you receive 3 basic categories of pay while "not working."
60 days under WARN (basically you are employee and everything)
2 weeks plus 2 weeks per year worked (Severance lump sum)
Other (PTO/Vacation/other agreed amounts)
I am a contractor and my contract is not been renewed (neuromod) they said more lay offs are coming in Neuro.
Here is what I heard in Santa Rosa.
Layoffs are coming.
3% of SR employees took the VERP.
Standard package will be 2 weeks pay for each year or service, plus all vacation bought.
Why are the VPs and the leadership so hush hush about layoffs? Just sp-t out the details now that you have announced them. How many getting laid off and when.
Are they scared of the bad publicity and losing more of our talents to our competitors?
Any idea who they have targeted to lay off?
So how does RIFs and severance work? I heard there is 60 days severance pay. So does it mean there is 60 day notice period, or is the termination immediate?
Rifs in Neuro happened yesterday, all quite today but was told there will be more rounds, starting again next week. I believe there are laws in MN which would require prior notice if 40% were cut from one campus. If not that is one cold hearted company.
I'm hearing 40% RIF started today at Neuromodulation in Rice Creek Fridley. Supposedly the remainder of that staff will relocate to Mounds View campus. 40-50 people let go in Montreal. My knowledge comes from Medtronic employees in the know, for what it's worth.
They seem to notify people they’ve been axed on Tuesdays and Wednesdays. I would expect rifs to keep happening in those days every week through the end of the fiscal year.