Don't be fooled, more cuts are coming post-merger. Whatever a manager's package would have been this time around, it will be much less come March now that they've all been demoted. Ouch.
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My base pay remains the same, with an opportunity to review at one year mark. No indication of what new base would be. Other components of pay (STIP, RSUs, etc. ) are based on lower pay grade amounts.
I have heard that some folks also received reductions in base pay. I think it depends on where you land within lower pay band, too.
We were presented with a severance offer to consider if didn't want to accept, per employment law
All demotions came with a pay cut that does not come into effect until the mandatory time period, equivalent to what they would have received if they were walked out, has passed. So if they would have been owed one year salary, they get their old salary for one year, but begin their new job. After one year the new lower salary kicks in. This makes it legal under employment law. Or they had the option to be walked out.
I heard that demotions came with a pay cut as well.
Just title changes and band adjusting to match title. Compensation and pay remain the same.
Hopefully they will demote supervisors as well, at least the arrogant ones... It's about time they become more humble. These alpha males s--- up to management and treat everyone below like their dog. With the attitude they have, they can only go so far.
I hope that one outcome of this situation is that people will reflect upon how they treat others and learn to treat everyone with respect regardless of what their job title is.
Did the demotions include pay cuts or were they just title changes?