IBM has set the bar low and Qualcomm is soon to follow suit #CorporateGreed:
http://finance.yahoo.com/news/ibm-lays-off-more-workers-003744292.html
3 replies (most recent on top)
Agreed attrition is enormous right now . People are leaving my group every week.
However if QCT is sold to Intel or China expect a large reduction with separation packages that are no where near as generous as they have been to date.
You get nothing. Now GTFO
"the big difference with this layoff is that IBM has severely cut severance pay to one month total, no matter how many years of service the employee worked,"
"In previous layoffs, IBM employees could expect a severance package that paid them based on how many years they worked. According to Conrad, that pay used to be up to 23 weeks. "
"Last year, IBM hired and fired in almost equal numbers. It added 70,000 people"
"I worked for an IBM competitor. When we ran into financial problems they had to do their first ever layoffs. Those first people got very sweet deals, people with 10+ years for over a year's worth of salary and 401Ks topped off. After a year or so of round after round of layoffs the benefits were down to a 2 weeks and don't let the door hit you on the way out. I saw a guy with 15 years end make it that far and it was devastating for him"