Close to 60 and 13 years with Citrix.
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56 and axed. New horizon ahead.
Thankful for the package.
4.5% for 10 year debt to finance / leverage stock buyback speaks loudly. Time to get prepared to leave.
Will be interesting to see how NC handles
Employment tax relief incentive with such a high attrition rate.
I was part of the last layoff. 40+ and < 10 years. Funny was getting "the packet" showing all workers (by title) and age. About 60% of those let go where over 40. I was fortunate enough to find a job within 2 weeks, but of course was looking prior as i knew my name would be called. I have great memories and certainly came out a better person, but sadly is the company is on a steady decline. Off to bigger and better things.
Meh, no longer at Citrix. I'm close to 50. I know people in their 70's still going at it doing fresh development.
My take? Regardless of age, if you have 6+ years, and certainly 10+, wait it out and take the package (while learning new stuff as much as you can, networking and interviewing just to get your mojo).
And if I really had an itch to go, I'd volunteer myself to my manager to be the next one to be let go (sometimes managers actually appreciate that because firing is never pleasant.) You are always better riding the wave if your severance package can cover 3 months or more - 3 months being the minimum to get a job, (ANY JOB!) to get your cash flow back.
Your severance is a benefit (it's pretty much your money) so learn to use it to your advantage.
I'm over 50 and pray to get picked for an exit package. The once great company has become a mediocre joke of itself and is oozing a slow death of management greed and foolishness
God, I hope so! I'm a 10+ year employee who is 40+ and I wished I had been let go last month. My future here looks undefined and bleak right now but I'm holding out for the package while I look for a great opportunity elsewhere.
It's not just age and service. It's ongoing across the board. It's about reducing operating costs to get the share price up to 90. This will not be a November/December 'event' - it's been ongoing since last month and will continue through Q1 (in smaller numbers).
How anyone with any dignity could stay through Elliot's asphyxiation of Citrix is beyond me.
Over 50 - walked out.
Layoff are routine task from now on where they will fire and hire . I heard from management that they will identify and remove team by team but not as a mass layoff. Something is coming in December for sure.
Keep an eye on the stock - you have a good shot at the package if it is stuck at 80 in a year.
I'm over 50 and would take the package. This slow burn to mediocrity is humiliating .
I wonder if over 50's will be walked out or goodbye parted out
True for me as well.
True for me.
Didn't they get them all in the October layoff?
Yes 10 years and over 40 that is the MO for sure. I can rattle off at least 30 people in this scenario that have been targeted in this manner. If you are old in their eyes, you’re gone!
It is not really true statement
Citrix is better than most companies in this area (so far). Across the IT industry, 35 is considered over-the-hill and ripe for replacement by someone younger.
http://heather.cs.ucdavis.edu/h1b.html
source? Or speculation?
Somewhat true. However, it's 40 though and 10+ years.