There's always rumors not sure if any impacted I'm ANZ
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Any layoffs to the in Australia and CEGBU team?
@cp This was in the US, where I believe "gardening leave" is not a legal term AFAIK, though some states have it.
@bm Last year those laid off and who had RSUs vest during gardening leave got to keep those shares. Everything else was clawed back.
Curiously, RSU grant docs stipulate that they don't vest during gardening leave, so I don't know why they did vest.
any layoffs happening now in ANZ specially aconex?
What about rsu vesting in gardening leave?
To the two folks who gave an outline of how it all happens I appreciate you.
For someone who reports to a manager who isn't ANZ based, would this be any different?
Is there any Layoffs in Australia and CEGBU team.
In AU, ETP is separate from all leave entitlements, so you would get up to 26 weeks as severance, plus all your outstanding leave additional. In most cases the severance is tax free, but your leave is not.
@aj
Correct about the script being read.
In my case it was as I laid it out.
I was M3.
Peace.
@ad Incorrect - here is what really happens
You will be asked to a 1-1 meeting with HR and your manager and be informed of your termination via script being read. Manger will know well in advance - mine knew at least 6 weeks prior. The meeting invite was sent the day prior to layoff.
You will be put on gardening leave immediately and you will be provided with an estimated severance payout by HR immediately. There is no option for negotiations or justification to keep your job. Its a done deal.
Slack will be disabled at end of business day. Email remains active during garden leave.
You will be paid as normal during garden leave and your remaining severance pay less any overpayment will be put into your bank account in the following payrun after your final day.
Applies only to ANZ RIFs
6 months severance - capped.
- Vacation
- Long Service Leave
How the process take place:
- You will be asked to a 1-1 meeting with HR and your manager and be informed of your termination. Your manager will be notified by HR a few hours beforehand of your termination. (Do not listen to the rumors that your manager knows well before this).
- You will be put on gardening leave immediately and have 7 days to lodge and provide justification of why you should not be let go.
- On the 7th day, you will be provided the proposed severance payout.
- You will have 3 or 4 days to sign and agree.
- A day after this, your Slack will be disabled.
- You should have 3 more weeks before your end date.
- Your severance pay will be put into your bank account the day after your end date.
For Australia employees eligible for long service leave payout will that be above and over 26weeks severance cap?
@a1 May I ask what was the severance for ANZ employees?
I think ANZ will happen later...in a couple of weeks. I was included in the last round and it was about 4 weeks after the RIFs in US was announced.
Hope for the best and good luck to you all...