Thread regarding Texas Instruments Inc. layoffs

Severance? Are they planning generous layoff package like the previous ones ?

mainly letting you work for couple of months before you head out - effectively letting you buy time

by
| 3186 views | | 1 reply (last )
Post ID: @OP+DS3hTyc

1 reply

In the United States large companies have to meet the requirements of 'The WARN ACT' (Worker Adjustment And Retraining Notification Act). (I'd never heard of the WARN Act until a TI HR person mentioned it. You can go look up the WARN Act on the U.S. Dept. Of Labor Web Site.)

The WARN Act (mostly) goes into effect when a company, that has more than 100 full-time employees, plans to lay off 50 or more people in a 30 day period; when that's the situation then the company has to give the employees a 60 day advance notice.

I've always thought that 'giving notice' sounds like the employees are to be told 60 days before they're laid off but what I've seen TI do is to lay people off and then the people continue to receive their regular pay for the required 60 day period (as well as continuing on their standard TI medical plan). (The last time TI laid me off I was able to continue to keep putting money into my 401k Plan and I even kept accruing 'Time Bank' which TI then paid me for. )

Frequently (perhaps always but I can't say for sure) TI offers to let the laid-off employee sign a 'waiver' (in which they say they won't say bad things about TI) and if they do then TI will 'sweeten the deal', usually extending (beyond the 60 day period required by the WARN Act) the severance period depending on how long a person has been employed by TI. (Unless it has changed in the last few years TI only 'counts' completed calendar years when calculating how long a person has been an employee so, for instance, if a person hired-on with TI in February of some year then TI doesn't count that year, at all, in calculating how long they've worked there.)

by
|
Post ID: @3urml+DS3hTyc

Post a reply

: