Thread regarding Medtronic Inc. layoffs

Even if it's too late for this round there is no guarantee that this is the final cut. Maybe it gets you on the list for the next round of layoffs whether that is next quarter of year. It seems the best bet is to look external and leave after quarter close. That way you would get the MIP and any unused PTO.

To answer the question about asking to volunteer to be RIF'd; Too late to ask to be added. The "list" was likely decided at least a month prior to notification. It has to be cleared by HR and Legal before moving forward to execution. Also, HR will say that people can't volunteer to be added as it would set a bad precedent. How do I know? I asked during a previous RIF and was told that. That doesn't mean it doesn't happen. Some leaders can make it happen.

any reason why VPs get special treatment? i mean they're leaving anyway, so why give them an extra sweet deal?

Retired HR. Only VP’s get special treatment. The rest of the workers cannot request a severance package. The motto is- we don’t pay people to resign. That’s why there wasn’t a voluntary layoff.
This is the worst layoff I have seen since 2008…
If you want to leave, dont quit until you have a new job. Its much harder to find a job when you dont have a job.
I wish you all the best

I ssked specifically HR then talked to my manager. Nope. No way. I resigned instead.

Talk to your manager about negotiating a mutually agreed separation.

MIP payout? Good luck. They will need that MIP money for Geoff’s golden parachute.

I am aware of two VPs who requested to be RIFd in advance and the request was granted.

However the general workforce does not get that kind of special treatment.

Keep your job/salary and start applying for external jobs. Thats my plan if I am not let go. Who knows how long it will take to land something paying similar or more, in the field you want, all of that. Keep working here (if you are able) and be picky on the next gig! Maintaining a job here also can give more negotiation power when you do get an over somewhere else.

In past RIFs they would offer a voluntary separation offer which is volunteering for the severance package if you were in a targeted function. Not this time however.

Severance is a consolation prize for being forced out without cause. You get nothing if you want to leave. The latest VERP was 3 months salary put into your 401k and cobra. Unless you had a pension which I believe was a better deal.

Someone brought this up a few weeks ago on this forum and the consensus was HR wouldn’t entertain it as they’d rather have you resign on your own accord if you feel like leaving, than pay out severance. Getting a severance package right before summer would be kind of nice….

Anyone know what the differences are between the VERP and RIF packages?

I feel the same. I dodged the layoff but was open to receiving one. My best guess is to reach out to your HR partner. I know people who wanted to forgo VERP for RIF and they were told no so its a rolling of the dice. At the very least you want to stay until end of FY to get the MIP payout.

My guess is that they would rather have you quit than pay out severance.