I unfortunately do not get along with my manager and was planning to put in my notice before layoffs were announced. I'm in a department/team that feels ripe for layoffs, and I'm wondering if I could negotiate a higher severance package if I volunteer, perhaps even max it out. Do I reach out to my MD? Or one level up? Probably obvious, but I don't feel comfortable talking to my direct manager about this.
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Schwab will never offer voluntary severance packages as they know all of the old timers like me will leave in a heartbeat. Most of the old timers are disgusted as this is not the same Schwab we started working at so many years ago.
OP here, thank you to everyone for the advice. I have decided to keep this to myself for now. It is too bad that Schwab did not lead with a voluntarily severance program, because it seems like a natural way to cut people who were planning to leave anyway (for dissatisfaction or just for personal reasons). Besides, it would be far less stress for MDs.
Best advice, keep that tight to your chest
I don’t think it would be in your best interest to have any voluntary conversations. There isn’t a program for volunteers and they don’t negotiate higher severance payouts.
If you don’t get along with your direct manager and you feel your team is ripe for layoffs, pray it happens to you and wait & see.
If you are right, you’ll get laid off, if you’re wrong, you can resign.
I believe you take those requests straight to Walt, just ping him on Teams.
You honestly believe the average MD cares to that extent? There is 0% chance that any MD would keep someone around in hope they resign to try and save severance $. It’s an exercise in org planning. If someone actively wants to leave, it would be one less tough decision, the MD is not going to give a sh-t how much the severance package is.
They do not take volunteers. If you volunteer and are not tight with your MD they just might keep you in hopes you eventually resign and they don’t have to pay you out.
It would be nice if a MD or HR could step up.
I need a break. I can live off the severance for several months. That’s what I plan on telling my manager.
STS
Best is to reach out to your MD. He/she have probably been given a target number of people to layoff. So this would make their life easier.