What packages did people get? I was offered 2 months in lieu of WARN, plus a measly two weeks. As I see it, the 2 months is a Federal requirement, as the law states workers must be given 60 days notice of a mass layoff (which this certainly qualifies as being). So, my actual severance is two friggin weeks! What were people given back in October? I want THAT plus the 60 days for WARN. I feel that a hungry employment lawyer could make a meal out of this.
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"Peace to all and on to the next adventure."
Ta-ra folks
Any UK people care to chime in?
What the f*ck are you talking about? All of us who got layed off got accelerated stock vesting for our options and rsus. In light of the situation I thought that was a very classy move by RVBD. They could've just layed all of us off without letting us accelerate but they didn't do that. The job market is still very hot so I don't understand the anger here, RVBD is a train wreck waiting to occur and we just got paid to jump off!
Compensation? This doesn't include 2014 but you can see the pattern: http://insiders.morningstar.com/trading/executive-compensation.action?t=RVBD
No one should ever expect that they are "owed" a job, however, this one one really deceiving. The executive teams kept increasing their own compensation while layoffs were already in play. When we got let go, and had to hand in our stock, it was not fully vested so...if you received stock option as part of your package, and then worked 12 hours days to increase the value of those options, by not having the stock fully vested, one blindly toiled away as the overall value of your compensation was diminished.
Riverbed could have gone down in the history books as having been a fair an equitable company to work for, a leader in a virtualized world, a role model for next generation workers. In the end, Sr. Management deceived the very people who gave up family time to come in on Saturdays because we believed we were part of something great. Peace to all and on to the next adventure.
We're given a month per year of severance while other companies (Cisco, HP, Citrix, VMWare) are given a week per year of severance. No employment lawyer will take this on because this is a very generous package! I for one am happy with my treatment here even though I got laid off. 5 months severance is not so bad. There's plenty of jobs if you are good and I had many offers already so I was already prepared to go, now I get a nice sign-off bonus to boot, not to mention the accelerated vesting. It was a great place to work and I felt I was treated right, so I have nothing but good things to say about this company, except for the big mistake in buying Opnet.
@anonymous95329 - u need to stop using u in order to lecture other people on any kind of skills (reading, math, etc.)
u need to learn to do math and upgrade ur reading skills! actual severence in your case is 2 months + 2 weeks: u no longer have to come in to the office per ur severence agreement effective immediately so the 2 months warn act counts as severence!
In California, the act is invoked at 50 employees, regardless of percentage. WARN has been invoked.
The WARN act would be invoked only if Riverbed laid off one-third of the total workforce or 500 people, whichever comes first.
http://en.wikipedia.org/wiki/File:WARN_Act_Decision_Matrix.png