Hello, I apologize if this seems insensitive to ask in the midst of layoffs. However, the writing does appear to be on the wall. I am making a plan. Can someone from the corporate level please tell me when annual bonuses are paid out and if they are typically paid at, below or above 100%. Please be as specific as possible. Thank you.
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I am hearing that is going to be between 75%-90% of target. Notice that Karen has stop sending updates on were MIP stands.
March if they don’t cut those again.
do not expect MIP to be over like the last two years at 180 or so and then 150 or so this past cycle - CVS laid off 5k people, lost 2 critical PBM contracts, lost another Medicaid State (CA) state of CA suing Aetna and they aren't done with opiod settlements... the ELT is clueless and will ensure their own well being - - ELT largely ignores the Medicaid business and rarely mentions it in town halls. MIP most likely will be below target.....
It will be based on term date not date of notification.
Will the prorated bonus be based on date notified of layoff/last day of working (which for many of us was August 14th/15th) or Will it be our termination date (October for many of us)?
That is correct. Those affected DO get their bonus. It will be prorated based on actual last employment date.
March 15th, you have to be employed in a bonus eligible position as of March 1st to receive it. The last few years I’ve gotten over 100% in line with MIP funding. I’ve seen here that those impacted by this most recent round of layoffs will still receive their bonus despite not being employed as of 3/1, but prorated.
Payout is March 15th. Last year I was paid 60% above target. Who knows this year.