Has anyone heard definite information that the US Severance policy is changing in the 2nd quarter fiscal year 2016? If so to what length of any? Managers are saying they don't know but at the same time they are telling employees who are being WFR'd now that it is better for them to go now.
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If you are not re-hired within 60 days you either sign and return the WARN document within 5 days to receive the final payout or you forfeit the final payout. Either way, you are now ineligible to be re-hired by HPE unless the Executive Council approves it, which means it's maybe 1% likely they'd hire you back.
I haven't seen the final number of how many people were affected by the latest WFR. I heard it was big, but I just haven't taken the time to find out exactly how many. Given that there have been massive layoffs and many positions are frozen indefinitely, I don't have much hope for being hired back by HPE within 60 days. And even if they did hire me back, I'd be waiting for the next fiscal quarter and wondering if it would happen again. Not a positive environment to work in, way to stressful to worry about losing your job day after day, seeing friends and coworkers laid off. Morale is terrible and most people are just trying to survive until they find a different and hopefully better job with another organisation. Seems as if Meg got things turned around and then steered them straight into the garbage. Either she's leaving, HPE is being sold or some other large scale change is brewing. HP, Inc. is hemorrhaging money and will bleed out before they can figure out what the correct product mix and business model is. Sad to see a once great company staffed by great people headed towards the scrap heap. The brand is still worth something, the company it's tied to isn't. Best wishes to all that have been or will be affected.
Just got WFR'ed after 8 months at HPE. Was given a 2 week "notice", pay remained the same and I retained my benefits package. My benefits package ended at Midnight Pacific Time at the end of two weeks. I have the option to elect for COBRA, which is a very expensive option. All unused vacation time that I accrued is FORFEITED via HPE policy (doesn't apply in a small number of states). I have 60 days to get re-hired at HPE (most relevant positions for me personally have been frozen indefinitely). At the end of 60 days you are given 5 days to sign and return the WARN document, which seems to be equal to about one month's pay for me. So basically I'm getting paid for 3 months, but no benefits.
Worked for Hp then HPE going on 5 years only offering 2 weeks pay no additional benefits after being let go. It's painful to hear of those who had only been with the company for months receiving full severance.
Presumably you'd at least get WARN payments, even if you started working at a new job before the end of your severance period, right?
...or when they changed the packages, can you now start work as soon as possible after your last day at work? IIRC, you had to wait the entire period of your severance period before you could start a new job, or forfeit your pay (presumably because HP could, in theory, still find a new position for you)
So how does John collect the WARN pay?
If HPE dosen't want to show up on the WARN list, do they just payout the 60 days of salary?
Minus the WARN Base Pay Equivalent (8.5714 weeks x $1,200 per week) = ($10,285.68)
The company is too big and spread out for its own good. I worked there for 35 years and back in the day low-to-middle managers were held accountable by their manager who usually sat in the same building. Also, there was an HR rep on site so if an employee felt he was being treated unfairly or witnessed a policy violation, i.e. nepotism, racism, discrimination, et cetera that employee could walk into an HR office and report these injustices. In turn, the manager would be questioned promptly and any disciplinary action deemed necessary would be meted out appropriately. My last manager at HP in Andover, MA is guilty of these violations and more - but because his manager sits halfway across the country, and no HR office on site, and the fear of getting laid off if one rocked the boat - he gets away with it and is still there today committing these very violations. But I digress.
Signed, Happy To Be Outta There!
For employees notified on or after April 18, 2016 of inclusion in a workforce reduction
Cash Severance Payment Example
John is a Plan participant. His Weekly Base Pay is $1,200 and he has 16 Years of Service. John is not entitled to shift differential, monthly on-target earnings or other additional compensation. John remains an employee of HPE until his Termination Date.
If John timely signs and does not revoke the required release of claims, then John will receive a cash severance payment of $5,314.32, determined as follows:
11 Years of Service times Weekly Base Pay (11 x
$1,200)
$13,200.00
Plus 0.4 times Weekly Base Pay for each of John’s 5 Years of Service in excess of 11 years (0.4 x $1,200 x 5)
$2,400.00
Minus the WARN Base Pay Equivalent (8.5714 weeks x
$1,200 per week)
($10,285.68)
Remaining cash severance payment
$5,314.32
John’s WARN Base Pay Equivalent is $10,285.68, and his cash severance payment is $5,314.32, totaling $15,600 in cash payments (subject to withholding).
Any idea if there will be changes in Canada?
Confirmed....from someone within HPE that knows. HPE did change the policy effective Feb 1st 2016. Up to 11 yrs of service gets 11 weeks of severance. For each additional year beyond 11, WFRd employees get 2 days. There is also now a clause that says WFRd employees will not be rehired (and it is left open ended) for HPE or as a contractor. There is no longer a 12 month or 24 month waiting period. The significant push to offshore is about to begin....AGAIN.
Severance for U.S. employees is minimum of 11 weeks pay if you have been with the company 11 years or less. If over 11 years, you get 0.4 weeks of pay per year of service over 11 years.
There are 3 payments:
In 2-3 weeks: 60 days worth of pay
In 60 days: 60-day benefit pay (what HPE would have contributed towards your benefits, prorated at 60 days).
In 60-90 days: Remaining severance (total severance calculated as above, minus the 60-days already paid)
No idea, but it wouldn't surprise me at all. I was laid-off in July (thank god - have great new job that I enjoy) and they paid me 20 weeks of severance for my 20 years of service. I'm sure that didn't make them very happy.
In my case, HP made the decision for me, although I had hated that place for the past 7 years. Do yourself a favor and take my advice - leave the sinking garbage scow that is HPE, as fast as you can. If that means volunteering for layoff, do that. Or, if you find something else, just take it and run. RUN!
The new US policy is on the official website now. Cut in time for people with more than 11 years with the company.
Current severance is as follows: You get three separate payments - 1st your last week of pay plus, if you live in CA and three other states, your earned vacation, floating holiday. 2nd after 14 days you get a minimum of 11 weeks to a maximum of 26 weeks severance pay depending on a ration of 1:1 years of service minus one full pay period of salary. So far that has not changed. 3rd and only when you send back the mandatory lawsuit waiver you get that final full check equal to one full pay period. Your offered job search services, resume review, etc with LHH. Most of your benefits run out after 30 days unless extended signing up for COBRA. If you are 2/3rds vested your stock options and LTI restricted cash will vest and be converted into HPE shares with you footing the tax bill.
I got WFRd in November after working at HPE only 8 months. I still got 12 weeks severance - not bad really. And it's a fairly decent job market out there.
It wouldn't surprise me though if HPE changed their severance policy.
I heard 3par storage and switch division will gradually ship jobs to india now and future.
If I were you I would start looking for job! Do not wait until HPE ships your job to India.
Rather than knowing what would be next, start right away looking for job and leave HPE as soon as possible! The severance pay will be ugly and minimum.
I've only heard that severance packages are being cut in half at HPE. 1 week for every two years of service instead of every one year.
There is no main page. Two companies - two pages. Each company now sets their own policies. Asking about HPE on the HPI page would be like asking on the IBM page.
Post this on the main HP page, there is very little exposure here