Anyone know the details?
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They are tightening the belt for 2019 severance packages. The CIC severance package is not the same as layoff, it never was, and it will differ more going forward.
Its the same.
So a VP who's been here for 4 years would get 8 weeks? Maybe but I'm not buying it.
If severance reduces to one week per year.
Class of 2015 and 2018 were the most lucky
For 2019 the severance package will be reduce to a base (2-6 weeks, title dependent) plus one week per year of continuous employment, with a minimum of 8 weeks.
Decision has been made to reduce severance going forward. CIC only happens if execs decide it happens. No relationship between common severance and go/cic (reserved for hostile takwovwr bid).
It has not changed. go/transition.