Does anyone know if we still get our STI for 2015 if we have been severed with a off payroll date of 12/31?
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It's a separate check, and you get it before March. You get paid once for your severance and once for the bonus, both within about a month or so of going off payroll.
If it is part of the severance lump sum, we are being short changed. Because there is a cap on weeks. If it is paid out separately, then it is fair if you were on payroll all year long. Not sure which way it is going to be done.
I understand they will be at 100% of target and end of year is last day is 18th of December or later. If you leave before the 18th you would wait for the performance and boards approval.
34 years and out of work.
If I remember correctly, the STI is set at an amount lower than the max for people laid off. I read that in the HR material before I was laid off. I got around 75% of STI when I was laid off last year.
Not counting on it being good. Is it paid in March like it is for people who did not get cut? Just trying to figure out how I am going to be paying bills.
Don't count on STI's being good. I'm sure with all these layoff's they will cut STI's in half.
Yes, you will still get the STI Bonus. However if you leave before December 18th they prorate a portion of it.
You should. I am and I was laid off last week.