Everyone let go on 30 Oct will be entitled to the bonus. The amount is to be determined and will be paid in March.
Bonus payments to dismissed and retired employees are generally the fixed amount from a separate fund. This means bonuses are flat rate and at the declared percentage.
Reposting this in its own thread for important info. The original poster is @umt+1q9yhR9Z.
Bonus rate = .00001%
I don’t understand the negative votes for the OP post!! They are just presenting facts and very useful and timely info. Sheeesh!
Does the firm plan on notifying those impacted?
is it 12/31 or the actual notice period end date 1/5 that you have to be employed on to receive bonus?
I had my bonus rate at 20% of my salary. Will I get it?
That is BS. I want my full amount.
Flat rate and declared percentage means that those laid off will not be subjected to met/exceeds evaluations and the funding will be full for the declared percentage.
The declared percentage will be a percentage against the target. Given company performance it will likely be a little less than full funding.
Does flat rate and declared percentage mean that if we were laid off and for example have 10% listed in our comp plan, we will get the entire 10% (with taxes deducted) irrespective of the bonus pool funding? If so, I will have some respect back for the firm.