Deal being announced today, initial agreement in price

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anonymous said:
So then when did this change? After the Abbvie deal fell through leadership made it very clear that they were re-evaluating their change of control severance since it was found that during that Abbvie takeover we would have been screwed. It was then communicated that they changed it to 3 weeks for every year of employment. Now, my trust in leadership is very very low so I could see them sliding in a slimy change without us knowing. But it has been, and still is, my understanding that it is 3 weeks for every year of employment.
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Nope. 12 weeks.
FO will give that away too if it benefits his payday.
 






anonymous said:
Abbvie mole get this board you Janitor turd,
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Are you 7 years old? That was a serious response by a Shire employee simply trying to provide honest and helpful feedback during what is certainly going to be an uncertain time for us. Wouldn’t be surprised if Takeda axes us all after seeing the mentality of shire reps on these boards....
 






























anonymous said:
Checked HR website. It is in fact 3 years per year of employment with a 6 week minimum and 52 weeks maximum. This was posted for year 2018
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Check it again because it states a schedule I severance and a schedule II severance which is a change of control and it clearly states 12 weeks - scroll to the bottom and look
 












anonymous said:
Check it again because it states a schedule I severance and a schedule II severance which is a change of control and it clearly states 12 weeks - scroll to the bottom and look
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As an earlier poster said it appears we do get both. If you actually read the change of control section it discusses the schedule 1 table which determines your severance based upon years of employment. The next section also discusses the schedule ii table. It might be possible we get both, but not being a lawyer it’s hard to really decipher. It also discusses bonus plans etc... but it does look like we do get 3 weeks per year. Read pages 7-8. However, I wouldn’t be surprised if this is negotiated during the sale...
 






the severance is horrific and the last page of the document states that displaced employees as a result of change in ownership will give non executive leadership 8 glorious weeks. They have literally fucked us for years working for Shire why would it change getting laid off from these heartless pricks. At least that twinkish Swiss shitbag will be ok with his tens of millions he’s making from the deal.
 






Whats funny about this whole situation is that the executive leadership took a great company and not only ruined every aspect of Shire but also lost a tremendous amount of value by bad acquisitions and horrific management tactics. Normally they would have gotten fired or at least held accountable but instead we will all lose our jobs and they get millions.
 












anonymous said:
the severance is horrific and the last page of the document states that displaced employees as a result of change in ownership will give non executive leadership 8 glorious weeks. They have literally fucked us for years working for Shire why would it change getting laid off from these heartless pricks. At least that twinkish Swiss shitbag will be ok with his tens of millions he’s making from the deal.
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I think we all need to relax and not have a knee jerk reaction to this. Truly read the document and not just the tables at the bottom. Read the section that specifically discusses the change of control. It clearly discusses the payment according to years of service (schedule I) in addition to a 12 week lump sum for change of control (schedule ii). Agreed that we need further clarification on this but don’t put people in an unnecessary panic before we have that clarification. If we do in fact get both that is not a bad severance.
 












anonymous said:
I think we all need to relax and not have a knee jerk reaction to this. Truly read the document and not just the tables at the bottom. Read the section that specifically discusses the change of control. It clearly discusses the payment according to years of service (schedule I) in addition to a 12 week lump sum for change of control (schedule ii). Agreed that we need further clarification on this but don’t put people in an unnecessary panic before we have that clarification. If we do in fact get both that is not a bad severance.
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Agreed, if that is the case. They did change the severance over the years, and it is like deciphering Mandarin, Shire no longer pays any severance for people dismissed for performance, zero weeks severance. Fortunately, I haven’t had to worry about that.
 






I just read it over again. I think we get both with a change of control and a reduction of force within 24 months of the change of ownership date. Read it yourself everyone, but I think we get both.
 






anonymous said:
I think we all need to relax and not have a knee jerk reaction to this. Truly read the document and not just the tables at the bottom. Read the section that specifically discusses the change of control. It clearly discusses the payment according to years of service (schedule I) in addition to a 12 week lump sum for change of control (schedule ii). Agreed that we need further clarification on this but don’t put people in an unnecessary panic before we have that clarification. If we do in fact get both that is not a bad severance.
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None of what is printed in Shire's policy matters one bit… They can change it as part of the negotiation and they did just that back with the buyout by Abbvie. Flemming basically sold off the salesforce and their security through severance for his dirty 30. He gave his 30 top executives retention bonuses while everyone else lost their change of control severance. I'm smelling something similar again.

Nothing matters until you see the terms of the deal.
 












once Takeda buys shire — we will all be Takeda employees—-then Takeda can do whatever they want with us and our severance

We won’t be let go until AFTER the acquisition- then Takeda can make its own rules
 












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