Thread regarding Medtronic Inc. layoffs

To the florida retiree - MIP/SIP isn't distributed until the 7/21 payroll so those of us who took the VERP or were laid off will be on that calendar like current employees. So if you were employed last day of the fiscal year you should get an incentive payout on that day.

I resigned after the end of the fiscal year and didn't receive any MIP at all. I am in Florida. My colleagues who stayed confirmed there will be no MIP but an incentive for employees.

Take the money and run. The grass is greener on the other side. You will be respected, paid fairly, rewarded for your ideas and expertise, treated fairly with realistic goals and help to get there. It’s out there folks you just have to take that leap of faith. I loved Medtronic, it was my dream company to work for. When I got there it wasn’t all that cracked up to be. Lots of great people, but leadership was probably the worst I ever had in my career. Go get your next adventure and have an open mind. The grass can and will be greener.

I was not laid off but resigned after fiscal. I was still paid the amount of MIP I would have gotten if I were still employed. Due to local laws, I have already been paid my discretionary bonus and did not need to wait until the usual payout time

What about people who resigned after the fiscal year?

Wait, this is the first I've heard that RIF'ed and VERP'ed employees being included in the "SIP"

They should find out soon or 7/21 during the payroll cycle. IMHO but I ahve no real knowledge

HR answered this question on a call recently and confirmed the VERP and RIF’d folks weee included in the pool

They are in the pool. Now if they will be docked a portion... We will never know as there are different percentages

What the OP is saying is that we did not hit the EPS goal so MIP is “$0.” There is an “incentive pool” that employees will be paid from. What they are asking is whether those laid off qualify for the “incentive pool” or not.

No we receive MIP for FY23 also