Anyone laid off but still employed through May 31 —- do we think just a standard “successful”?
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People laid off in February - off the payroll in May are eligible for PSP as well. I’m laughing at the idea CFEs were even done this year with all of the uncertainty and complete freaking mayhem currently existing across WHQ and beyond. Single-handedly this was the worst layoff (possibly tied with CDA) that has occurred. All thanks to the fearless leader JohnDon!!!!
Who are you, people? It's all published on the HR Website... It's announced on June 27, paid with the August salary.
When will the bonus paid??
Combined E and HS can't be higher than 15%. With E Maxing out at 5%, that means HS is 10-15%. It's a bullsh-t system though as it means some E's and HS's get S's because someone elses golden child is in the same group.
I think the rating breakdown is something like
E: 0-5%
HS: 10-20%
S: 50-70%
I: 10-20%
U: 0-5%
I’ve never heard of someone getting an unsatisfactory. S is probably what you will get.
Bonus isn't tied to CFE, but at SD and up level, CFE's allow for discretionary increase in RSU/Options awards
I think if you’re focused on your CFE as laid off person, you’re thinking too deep. We’ll be lucky to even get a good psp this year let alone anything other than an inflation adjustment for our merit.
But hey if you get exceptional… I guess good job?
@qiu+1t04AgUM is correct. There is no individual modifier in the formula anymore. They got rid of this several years ago. Also: the bonus calculation is not a secret. You can look up the formula on the HR website.
Read the company policy for God sake.u less your CFE is unsatisfactory or you have received final written warning, the CFE has no effect on PSP. Even if you are on action plan, it has no effect on PSP.
But CFE is a very arbitrary bullsh-t. Some time there will be a lawsuit regarding that. Imagine you are successful but then on behalf of a bell curve and some white random dude who is the director's favorite, you will be downgraded to inconsistent! Because we cannot have too many successful or highly successful!
PSP is connected to CFE ratings through a modifier percentage, but in terms of actual dollars it’s not a meaningful difference. The PSP payout difference between an Exceptional and Satisfactory rating is no more than 2%-3%. We’re not talking about huge, 20%+ swings based on a CFE rating that most of us know is somewhat arbitrary to begin with. That just isn’t how it works and anyone who claims different doesn’t know what they’re talking about.
You do realize that PSP is not connected to individual performance ratings but to company financials?
My bet will be some form of Not Rated. Not sure if there is an option for Laid off by still on payroll, so I suspect they will just re-use Too new to Rate
As a manager I don’t care what my directs make, past or present, as long as they’re paid enough not to quit and it’s in their range.
It’s not my money, so I wouldn’t really care what former employees may or may not get.
I don’t have any laid off employees so I don’t know what is in any severance agreements. I feel like that kind of detail would be in there, but I don’t know.
I really doubt most managers are mustache twirling and ruminating on how to be spiteful towards people they don’t have any responsibility for anymore. I assume most of us are focused on surviving.