Preferencing starts tomorrow... we can preference 3 diff job types... we have until 6/7 to preference and then on 6/23 we figure out if we made the cut or not. If we don't make it then we get severance
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@wln+1mM45u0L Don't believe them they say rif is not performance based but Director or manager may give a low performance rating saying you didn't work same as everyone even though you are eligible for 100%.
This doesn't include sti which is part of severance which is prorated.
@OP+1mM45u0L Did you actually get 3 position choices? I saw where the 3rd option was the severance.
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The 3 weeks per year was the VSP packaged offered in 2018. It has always normally been 2 weeks capping at 35 weeks.
You will also receive accelerated vesting of your stock together grants, not that they are worth anything.
Pretty sure STI is now 75% of target prorated for the number of months on the payroll. The severance documentation should be available on the portal.
The usual severance package listed in HR doc, 2 weeks per year capped at 35 weeks. 2018/2019 Voluntary Separation Package VSP gave 3 weeks per year capped at 60 weeks. Full STI.
2 weeks per severence capped at 35 years or weeks?? If capped at 35 weeks, it means someone with 18 years in and someone with 30 years in wilt get the same 35 weeks pay?? Is this correct??
I guess you all do not have a no layoff clause in your contract?
Do affected people know after the meeting? Or is there a special email or something? Trying to find out for my wife
microsite will be up in the morning
I was impacted. 2 weeks per year capped at 35. Full STI
It's 2 weeks pay per year of service. Usually half bonus and medical through that time period as well.
Typically severance for vzw had been 3 weeks pay for every year employed. These are different times unfortunately. Companies are at ask time high cash bleeding. If you can't make more cash, you nix the expenses. Our pay are expenses. I'd not be shocked by less than 3wks per year. Update your resume. IMO the economy and corporations bottom lines will only see a blip of boost and then more expenses (us) will need to be cut within 6 months.
Is it the typical 2 weeks severance for every year of service capped at 35 weeks?
Effects all. Everyone has to reapply for the positions available. If not accepted then gone.
The severance is your years of service times your weekly compensation. The micro site will be up tomorrow at 9a est.
I wasnt in webmaster but exec director is doing town hall now. What orgs are affected?
Which webcast?
What positions are these?
It’s the typical severance
That webcast was such word salad. My org was in it and people in slack are still confused about what it means. What you described seems to be what that meeting meant but who knows. Haven’t even gotten a link to the micro site or an info sheet. As it is with every change looks like we got a sh-t show.
I'm excited to see what the severance is.