For awareness. It may be illegal for them to force you to sign documents for severance payments. Essentially, it may be illegal for Crown to force you to sign rights away for severance. https://www.nlrb.gov/news-outreach/news-story/board-rules-that-employers-may-not-offer-severance-agreements-requiring
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I have a few good friends that were of the “you’re laid off but not until this date”. I personally think that’s worse than having be quick and over with…kinda like ripping a bandaid off quickly. (I used to work at the Purple Palace…but I quit a few months ago bcuz it wasn’t a tolerable environment any longer) The company is not doing you a favor. “This is awesome! At least they gave until December and I’ll have plenty of time to search for a new job.” There a reason behind each & every employee they chose and I know for a fact, it isn’t because they decided to be nice, it has nothing do with you being a great employee and that’s not why you got a delayed layoff. They need you to finish some stuff up (on teams where its not easy to plop your work on someone else, they need you to train the person who had the connections to be placed on another team instead of lose their job or if you got one of 6 month delays…your have a higher salary than most of your team and they actually don’t want to pay your severance and hope you’ll quit before then.
2 wks per year of service. Min 12 weeks. (Must be nice for those who “worked” less than a year). Same deal for cobra. RSUs will cont to vest….buttt only if you got them before 2024. So anything you got this year for slaving away last year. 401k normal vesting schedule. Only people complaining about that “worked” less than 3 years. PTO payout is a joke - make sure you read the fine print. It’s only for “accrued and unused” so basically the front loaded you received is a facade. While it’s def not as good as the first round, it’s better than most places. And better than what anyone will get on the next round of trimming the fat.
Regarding @OP+1t67i4Ir "Severance"
Thanks for the post, however, the link you are referring to calls out Section 8(a)(1) which deals with whistleblowing, organizing a union, and those type of "rights" an employer may try to squash via severance agreements.
https://www.law.cornell.edu/wex/unfair_labor_practices_(ulps)#:~:text=Section%208(a)(1,they%20engage%20in%20concerted%20activity.
The people on this round wish they took the package last round. This round you lose all the RSUs that you are still waiting on a vest. Same as 401k. 1 week of pay for each year worked, same with insurance. Minimum is 8 weeks.
Last round was all RSUs will be granted at vest as normal for 3 years, 401k vest schedule remains (unless you move your 401k then you lose the vest), insurance paid for 15 weeks, 2.5 weeks per year of employment with 15 week minimum.
This round got a lot less. Next round will be even less.
Each state has a specific time allowed for you to review , exit out, copy and forward (to your attorney for review etc) and return to accept and sign. Yes it is in Docusign format. Last August it was a sweet deal for a tenured employee like me getting 2 and 1/2 weeks for every year I put in…Yes it was a gamble but seeing what became of this company I am glad I volunteered on the exit train
@3dfe+1t67i4Ir I think losing my RSUs is the part that makes me feel the most robbed. Has anyone had any luck negotiating terms of the severance? Or is it a take it or leave it type deal?
I'm upset that I'm losing all the RSU I was granted this year. Long term value....
What is the severance package? Is it the same as the package offered for the August layoffs?
A billion dollar company with internal and external council completed a RIF only to be defeated legally by some guy with Google. Even if you wanted to fight it. You don’t have the money or time to. In the end you will come out worse too. Just sign it and move on. You aren’t going to get eh company back or stick it them.
1iys+1t67i4Ir, correct. You must sign to be put into the severance pipeline. My COBRA packet did not come until after I signed, meaning that you are forced to sign. I spoke with an attorney about this and he stated it is, most likely, not enforceable.
True…I was on the last round…Severance was sent by a link to a docusign page…allowing ample time for me to forward to my attorney before signing. Attorney stated that the 2.5 weeks pay plus insurance per year worked, pro rated bonus and PTO cash out was very attractive but I did have the choice not to sign resulting in employment at will termination with a 6-8 months unemployment check being swallowed up by COBRA. Just sign the agreement and do yourself a favor and move on.
The last round they wouldn't send the severance until you signed claiming the documents included your agreement to how much your severance will be. That's how they end up forcing you to sign.