What's it going to look like in DXC?
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In the US you get an email with a v/r at the bottom, consider any 401K non-vested so that was a 3% cut after the 401K "fees withdrawn" on that money. In the USA money withheld for stock purchase for a 1/4 year jan 1 to april 1 will be returned "promptly". Just my two cents: Fidelity wasn't stellar however you now realize they were better than what is now offered, 5% down to 3% and now non vested for first year = 3% cut retroactively. Be careful because recruiters sell benefits when you hire but don't explain the ramifications when they are modified, and many employees don't pay attention to non take-home compensation. Another example was the cash for wellness plan no longer offered to employees in the US who had insurance under their spouse. Bit by bit it added up to a significant cut. But the good news is that there are jobs out there, you need to just market yourself and get active. Best of luck and don't waste time being bitter when you can do better. In 20-20 vision or hindsight I wish the money not applied to stock purchase was in the 401K the 1st QTR in USA, but again no real regrets. Truthfully the loss in vestment is the removal of any rationale not to look. My crystal ball predicts layoffs in December and stronger than expected earnings in that qtr. Once upon a time there was a reasonably decent company you were proud to be part of and who offered world class benefits, now uhmmm not so much...
I got the maximum 18 month salary at HP in 2012.
On the SuSE (subsidiary of Microfocus) side of the HPE spinoff, our years at HP/HPE were preserved when we rolled over to our new job. In terms of time off, we get that based on years of service at HP/HPE/SuSE. We're currently in sustain and growth mode, so not sure what will happen when we go into layoff mode and severance packages.
Maybe they can get way with that in the US. They won't in Europe, continuity of service will be maintained.............until June and the HR Einsatzgruppen start up again
On April 03 we will all be new at DXC and have 0 days of job history in regards to Severance. This is when the "Synergy" will start to get applied for the benefit of the Share-holders and Executives.
In the US it is 1 week pay per year of service up to 8 weeks.
There will be no 'package' as there is no legal obligation to provide one. Ethics are long gone. Not only will you be booted with nothing, you will be lucky if you can take your 401k before it tanks.
The CSC deal will look pretty good if Lawrie ever finds out that IBM are getting away with paying statutary minimum in the UK. HPE have been paying out huge sums for ten years and the belief is that the reason the VR paperwork was almost a week late this time round is because someone in CSC shat his pants when he saw the costs. Only a matter of time before the race to the bottom sees CSC follow IBM's lead.
I hope your assertion that DEC redundancy terms are contractual stands up, but, DWP Image people thought their's were until they transferred back under TUPE and joined BPDTS (a wholly owned subsidiary of DWP) a year or so ago. The terms of those expecting to be able to take early retirement with an enhancement of up to 6 2/3yrs have already been "varied".
The question was "Does anyone in CSC know what the current severance package is for US Employees"
The answer is there isn't a package, it's you being kicked out the door
@ibi Thanks. CSC's terms are worse than standard EDS terms, much worse than those on legacy HPE terms and much, much worse than those fortunate enough to be on legacy DEC terms (whose terms are contractual so cannot be changed).
Oh dear. I imagine DXC will be no better, and likely worse. Not worth hanging around for.
@caw The UK CSC standard redundancy entitlement is calculated as follows:
0.5 week’s pay for each full year of service where your age was under 22.
1 week’s pay for each full year of service where your age was 22 or above, but under 41.
1.5 week’s pay for each full year of service where your age was 41 or above.
Employees must have 2 years’ continuous service to qualify for redundancy pay and a maximum of 20 years’ service is taken into account for the calculation. Statutory redundancy pay is normally capped at £475 per week; however CSC's terms (for employees on standard CSC terms and conditions of employment) offer a week's normal pay without applying the statutory cap.
Compared to standard EDS HP terms you basically lose 6 months money i.e. you get 9 months as opposed to 15. Well, you do. I already got mine :0)
You should probably post this on the CSC board
And indeed - if anyone knows the UK details please feel free to share