Someone on here suggested that those laid off effective 11/1 would get a prorated VCIP, if it is paid. The "Leaving the Company" summary suggests that someone laid off is eligible for an adjusted VCIP. It seems to be a bit ambiguous. Can someone confirm that they would receive a pro-rated VCIP, if they are awarded?
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Last poster - written in my severance letter 'included is a pro-rated VCIP for the 2015 Calendar year'. So yes,it did happen
I'm not sure what the last commenter is referring to about being paid a bonus when they were laid off, that's not a thing that happened. However for those us laid off (in October at least) last year the severance agreement does state that we'll receive a prorated VCIP for the months worked in 2015 when VCIP is paid out.
Yes, was let go last year as part of the major layoffs and was given my prorated VCIP. I know it is tough to understand - being walked out the door and handed a bonus. Remember, these are not performance based layoffs. Most that are being let go are not poor performers, they just make too much/don't have the right friends.
The VCIP is a target based on your eligible earnings (salary). If you normally make 10k/mo and got laid off in October then your eligible earnings are $100,000 for 2015. Then you calculate a target based off that. Say your target is 17% percent then you can make anywhere between $0 and $34,000 depending on the company's and your individual performance.
Basically, when you signed the release (required to get enhanced severance pay), you agreed that the company could do to you whatever it wanted, and that the release took precedence over everything else. However, the severance policy does state that if you are laid off (not fired for cause), the VCIP payout is prorated for the time you worked in 2015. If you got laid off Nov. 1, then you should get five-sixths of a full year's payout, assuming anybody gets a VCIP payout this year. Under the policy, only retirees and those involuntarily laid off at a time of the company's choosing get prorated VCIP.