Any reason to not sign the release?
I haven’t heard of any class action.
Two other items:
1.
My agreement states that I will not disparage GM. So I must be careful, at least throughout the duration of the agreement.
2.
Also, it states that GM doesn’t intend to rehire those separated (at this time).
Although among my papers is a one pager indicating that I am eligible to apply to GM for open positions.
In regards to the following mentioned in a previous post -
"Also it's not clear what the bonus payout will be... I don't think 95% has been announced yet. I had heard all people cut would get 100%."
Based on what I have heard, GM is paying out 95% of the Team GM bonus. I believe the formula for the payout is:
(Base Salary) X (employee level %) X (GM's payout) X (individual performance percentage)
where:
employee level % = 13% level 7, 11% level 6, etc.
GM payout = 95%
individual performance = 100% - this is what will be 100% for anyone who was let go.
Sign it. You have no recourse. A class action lawsuit won't happen. You have no union behind you to stir the pot. If you disparage the company during your severance period they can and will stop your checks in a heartbeat. Standard practice. Pure rubber stamp legalese. Been there in 2017.
My reviews say I did a "fantastic" job and I exceeded expectations. Yet, I was laid off.
I too was wondering if any reason not to sign it.
I'm not a lawyer but seems the only case some might have is to prove some type of discrimination existed in how people were selected for the cuts. I never had a bad review and was promoted a few times in my career, so I was a bit surprised to be laid off. At the end of the day I believe the script everyone was read about "due to cost cutting measures your position has been eliminated" along with any kind of legal clauses protects them.
The only thing I am still not understanding is the WARN act. Does that extend the severance for some? If yes who which groups?
Also it's not clear what the bonus payout will be... I don't think 95% has been announced yet. I had heard all people cut would get 100%.
Looking to sign my release however it states that Employee represents that Employee has NOT signed this Release prior to the separation Date.
In the Q&A sheet there is a question on pg 2 about last day worked versus separation date. It says separation date is Feb 28th.
So do we send the form in before Feb 28th? And if so what date to we sign it?
For number one, it’s common in separation agreements. Just post your criticisms anon for the time being.
In regards to rehire, if they really want you, they can still have you. That clause is to protect them from ex-employees who may have gotten a different idea that they are owed something (i.e. “My manager said that they will give me a chance if I reapply,” or “I heard they’ll hire me back in a few months,” etc). You are basically in the same position as any non-ex applicant. Don’t expect any more. Your resume is just as likely to end up in the bin before even being read as the others.
But really, I wouldn’t apply again anyways unless GM is the only company in your area and you can’t move.
I'd have to down to my last dollar to consider applying to GM ever again. Folks who made it, this isn't the end. As long as Mott leads IT, there will be more of these firings. Don't procrastinate: keep that resume up to date so once you get canned, you can hit the ground running.
I noticed the two different statements on rehires. I wondered about it, and after waiting to sign, I just decided not to give it another thought. I wouldn’t even apply for another job with this company.
I signed and will mail them today.