If someone got excellent/bad performance review, does it matter in bonus payment if they are laid off?
I'd also like to know this, if anybody has any ideas or even better actual info.
8 replies (most recent on top)
There is an "Individual Performance Adjustment" factor that is applied to the bonus formula. This would likely (but I have no inside info to confirm) be based on the 9-box assessment for CY18 that was already submitted by managers (and that we have yet to see). So typically a low rating results in a reduction (< 100% factor) and meets/exceeds results in a 100% or greater multiplier.
I was laid off. We will get 100% of the available bonus. It will not increase or decrease based on performance factors.
While you have not received you 2018 year end PR, it was completed by your manager and submitted to their Director ( 9 box assessment ). This was at least partly used in determining the list for terminations. We were told salary cost, org strategy also went into the formula. Personally, I think there are some demographics at play as well. Seems to be a lot of older folks impacted.
Check your paperwork that they handed you when leaving. I heard it mentions something about how the payout would be structured and it didn't sound like previous year performance review made a difference (good or bad).
last post is confusing, you can't get a perf rev after you get laid off, if you don't get laid off then maybe you get your perf review after layoffs
Didn't some postpone performance reviews until after layoffs? If that review affects their bonus, some might have signed a severance agreement based on getting the bonus because they have always had good performance reviews only to find they suddenly have a bad one.
y
Do laid off people even get bonus?