I've got another Job offer that I'm going to take. Obviously I'm hoping I get targeted for a layoff to double dip for a couple of months, but how long do you have to be employed by GM to get the bonus check on Feb. 28th?
New company wanted me to start Monday, Feb. 18th. I asked they delay till Monday, March 4th.
If I work any part of the Feb. 16-28th paycheck does that secure my bonus or do I need to be employed by GM on Feb. 28th?
stay on till they give you the bonus letter. After approving the bonus they send advise to ADP and also issue a letter to you. Once that process is completed, you can submit resignation and ask them to relieve by March1st. Else, upon submission of resignation, they may decide to relieve immediately before Bonus decisions happens and you may not get bonus.
Do you really want to work for GM again after all of this?
in the benefits summary, they have stated there will be no bonus payout if you are severed prior to payout date
This is going to be GM's statement on the Team GM payout. https://www.youtube.com/watch?v=4UDnTJcjPhY
"performance period in which the separation occurs."
I read that as we don't get 2019 bonus. Just delay two weeks till March. If they want you that badly you can ask for a sign on bonus...so they can "put up or shut up". I made GM wait 2 months for me so I got the bonus from my previous company. The company before that I made them wait because I wanted to take time off and travel before joining.
If any company is so desperate for employees that they need you two weeks earlier, that means they have a ton of fires to put out, and they don't give a c-ap about you.
Also, if you are dealing with an external recruiter they want to pressure you more to join so they ensure they get their $$$$
I dont think you burn the bridge of GM . Do you think GM even care about single person. but think about one of your coworker may be saved from layoff if you quit before they get the final name out. unless you are at least 50% sure you are on the layoff list, you should quit now.
what's with this delay of bonus stuff being discussed anyone have more info?
"not eligible to receive any teamGM Performance Plan payout for the performance period in which the separation occurs" ... key here is " performance period in which separation occurred" the 2018 performance period is over and we are now in the 2019 period. So no bonus in 2/2020 for anyone separated this year.
No bonus for you. The handbook is very clear. If you are fired before February 28th there is no bonus from the prior year for you. None. Nada. Zilch. The only person I knew that got one died the previous December. A ballsy co-worker fought it up the chain for his widow. The director had given it away by splitting it among his own group. The bonus was reinstated. RIP BW.
Look. Hold out until March 1. Your bonus should be on the second check in Feb. Then leave. If the bonus is delayed for whatever reason, GM still pays you and the new job will wait. Negotiate your new start date. They will understand your need to not burn bridges.
Gotta be employed on the payout day feb 28th otherwise no bonus for you.
No, we will get bonus if we were GM employees for the whole year of 2018. I am waiting for the layoff before I will take the new job offer. Good money. Why not wait?
"TeamGM Performance Plan
Employees separated under either the GM Severance Plan, or separated by a Mutual Separation that occurs prior to the teamGM Performance Plan payout are not eligible to receive any teamGM Performance Plan payout for the performance period in which the separation occurs."
I read that as you need to be employed on 2/28 to receive the bonus.
They're delaying the bonus. Don't stay in hopes of getting the bonus.
Right. The bonus. You must be GM IT. Dream on brother. A bonus ain't gonna happen. You are being fired. Read the Benefits handbook. This is not the voluntary layoff. Those takers are in another class by design.