It looks like Feb. 4th is the latest consensus. My HR leader has all day holds Feb 4th and 5th. The timing makes sense too with the earnings release on the 6th. Investors will want to know that the process is starting.
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GPSC
@Xlo13hg-2euh Which group are you in? Example: Engineering, IT, etc?
At the GM Tech Center in Warren, MI we are being told mandatory attendance next week (Feb 4-8) in by 7:45 am. So it looks like the cuts are stacking up around one date across GM.
GM already announced the layoffs months ago. They already took the publicity hit, and Trump has already commented.
So they aren't trying to avoid the layoffs around the SOTU and Auto Show. Everyone already knows the layoffs are going to happen soon.
From the postings on this board, the layoffs have been delayed because the original layoff list was heavy on older employees and the lawyers made them go back and add a handful of younger employees to the list so the age discrimination didn't look so obvious.
This will be interesting. The original date for the SOTU speech was Jan 29. With the Govt shutdown and whatnot, it will now air the evening of Feb 5!
Not good press for GM if the axe falls on the 4th/5th.
It's 1 month at 50% pay for each full year of service up to a maximum of 6 months. As for the bonus, According to the Total Compensation Journal, if you are not employed on the date of the payout, you are not eligible.
But, who knows, maybe the company will find a heart and pay the bonus anyway. Only thing is, if you are being let go, does that mean you "did not meet expectations"? If not, are you still eligible for bonus?
@Xlo13hg-vcw, re-read his comment. 2 WEEKS per year. Pretty sure that's straight from the TCJ.
I doubt you will get 2 months pay for every year of service. That would be 80 months pay for a 40 year person. Most likely will be limited to six months severence pay.
Sounds like a fair compensation plan
I received this from a very good source:
Its happening on the Feb 4th with full Feb month pay + Bonus + two weeks pay for every 1 yr .
Most of us already knew this because of all the chatter / rumors, but it looks like this is it.
Good luck to everyone, I know that this s---s but hopefully the ones that go will be able to get a job quickly, get those resumes updated sooner than later.