For those getting RIFed are they paying out any bonus with your severance package? If yes, is it your normal % or a lower amount?
6 replies (most recent on top)
: @8tio+1qxzBumS- INCORRECT! RIFed/E-O do NOT have to be employed on the day the bonus is received. They just have to stay til the end of the year or date in their HR paperwork for the 2024 prorated amount.
I got full 2023 bonus, plus prorated 2024 for the time I'll still be here. And agreed, however much that actually ends up being...
This sure didn't age well, 30% is the max AIP for 2023. I doubt RIF'd or 'Laid Off' employees get paid any bonuses because you have to be employed on the day you receive your bonus which is 3 months after the end of the year you earn it in.
Tanking Q4 results is not something companies do. They usually recognize as much upside and squeeze out as much expense as possible in Q4 so they can meet/beat wall street expectations for the year. Remember, execs get paid bonuses AND stock equity on meeting/beating those expectations.
If you are RIFed, yes you should get your 2023 AIP at a personal multiplier of 100% however as the previous poster said, the company will most likely tank 4th quarter results so they don’t have to pay that much.
Being that I work there now, I wouldn't be surprised if they come out with overall bad results and don't pay much of anything as a bonus. That's what that email from early December is preparing us for - "headwinds" as they love to say.