For the people that got laid off today is today your last day and what was the package?
14 replies (most recent on top)
A large portion of Sr Leadership comp is stock so their go to move is to cut employee costs so it can flow to the bottom line of profit and hence stock price appreciation. DC did this, BE is doing it and neither apologizes for it. What is troubling is it simply is not working and the current stock price is at the same level it was 4 years ago.
MAYBE THE WRONG PEOPLE ARE BEING LAID OFF? START AT THE TOP RATHER THAN THE BOTTOM.
@dt David was holding the book of matches! And still getting paid as we sit here watching it burn.
The package for my employee was 30 days of still being employed but not needing to come to work, then 2 weeks of severance for every year of service. Also they are offering direct support to try and find another position in the company or another job elsewhere. Idk how effective that will be but I made sure to let them know I will 100% give them a referral and do anything I can to see them employed again. This sh-t is gutting us as a company, David must have seen the writing on the wall and jumped before this dumpster fire was set off.
@am You eat it. They don't pay that out anymore unless your state requires them to. Think of it like the vacation days you were promised when you were hired and then they put them on the GLP-1 borrowed back from other employees to slim down your compensation.
@bd whatever you say….
@ag WARN notices only apply in circumstances where 100 or more people are being let go at a time or there is a plant closing. It does not have anything to do with the specific notification time period unless they meet that number threshold. If they are letting 99 people go they don’t have to file. If they title it “job eliminations” they don’t have to file because they will not being those jobs back. Layoffs are a very specific type of termination and that is what requires the notification period of 60 days. Please actually read the law.
@am some states pay it out like CA only about 9
What happens to pto?
@af are you paid 2 months then severance? Best of luck to you
@ag they aren’t required to give severance
@a9 no they don’t. What fluctuates is how long ones notification period is. That is
Based on laws and regulations to get around WARN notices.
Yes last day 2 weeks for every year of service
@a8 no they change them up
Severance packages are clearly defined and easily found on Iris.