Corporate officer severence

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Anonymous

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How nice - When a corporate officer get canned at HSP - he she gets 2 yrs severance pay plus any bonus "earned" the last yr. Also they get 130% of the equivalent of 72 MONTHS! (6yrs!) COBRA in a lump sum in addition to the 2yrs + bonus payout.
Hmmm- sounds little different from what was given to the people axed during "Fuel" and "Go to Market" they got 1.5 weeks pay for every week of service and NO cobra. Co policy used to be 2 wks pay per yr of service but was adjusted down when they started firing some very good people.
 






Redo on the math for Cobra - 130% of 72 months = 7.8 yrs!! might as well say 8! What a great deal for them, it just warms my heart that they are being so well taken care of by EACH OTHER!!
 






Hospira management neither followed nor executed the playbook that was handed to them for the reorg/downsize. They laid off lower level folks en masse to meet the target number of heads to cut while protecting friends and cronies in middle management and above. That is why now there are a tonne of manager level and above folks running around relative to the number of folks that actually do work and why the place seems doomed to fail.
 






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