Layoffs and reorg communicated the following week to line managers, 2 month notice provided so everyone can vest one last time in Nov. as a thank you for your service, pretty generous actually.
15 replies (most recent on top)
HR leads received personal confirmation from Michelle Sterling that everyone will vest on 11/20 if they stick around for the 60 days. I heard that some groups will stick around for a few months after that, due to projects needing to be finished and length of time required for an effective handover. HOWEVER, I also heard that if you are given your notice, you CAN leave straight away and still receive severance. You just won't get the vest, which for newcomers may be very little after tax anyway.
Any day now, grasshopper; just be patient; you turn will come in time.
When is the big Layoff Day exactly?
The 60-day notice is a minimum requirement by law. The company can give a longer notice if they choose; therefore, notices can be give prior to 9/21 and separation date can still be 11/20 or later.
#batman Anonymous142956 is either a HR troll or a complete tool. Go ahead, work and compete your ass off, perhaps that will get you through this round. But sooner or later, even a whiny tool like you will have your title and salary advanced to something more expensive than a fresh grad - H1B or not, let's see what a proud interpreneur you will be when you're being kicked to the curb.
I, for one, can't wait for the new "justify your EPS existence" version of Q. The politics, backstabbing, and favoritism will go through the roof. Everybody will jump claw scratch fight their way to the high margin lifeboats. Metaphorical women and children will die. Status collectors of the world, unite and take over!
Labor day is 9/7. The Thursday after Labor day should be 9/10. The week after 9/10 is any day between 9/13 through 9/18. If our layoff notice is given during this period (9/13 - 9/18) then, yes, that's a smidgen shy of having the next vest date included within the 60 day period. However, I believe the OP is saying notice will intentionally be withheld so that we get our stock just before parting ways with Qualcomm. This would mean notice should be given the following week - on 9/21 or after. Yes, that would be very, very nice.
When you are told will likely be Sept 20 or after. Since you couldn't figure that out from the original post, you are likely on the list! I don't think hourly employees get any severance.
There may be another round of layoffs announced in 2016, likely specific to the new Org that will be announced. Some divisions will require higher margins therefore don't think you are safe just because you survive this round. Instead, focus on helping the organization create value and you may be ok. The time of the company "taking care of you" is over, just like it should be for the US Economy and Government. We need to become more competitive and accretive, its starts with all of us. Welcome to the real world where your contribution to the company is important! If Qualcomm starts to be run like a small, hungry company, everyone will be much better off.
Isn't the vesting date November 20? If that is the case then 60 days before November 20 would be September 21. So it seems to me unless were told that were laid off on September 21 or later we will not get any stock In November . Or, am I missing something?
Thanks QC for the excellent timing again! For those HR and Mang people who involved and caused or were part of harming employees and engineers I say, "remember...what goes around comes around!"
The big question is what the per years of service severance will be. One week? Two weeks? No weeks? Different for salary vs hourly?
all who are affected will have a wonderful unemployed Thanksgiving and Xmas. The real job search won't begin until Feb or so. Thanks Q for the excellent timing again!
Labour Day? When's Tory Day? Or is it Torrey Day?
SM said so, so it must be true. Everybody vests in Nov, including SM.
I hope it's true