Hey Beavis, lets get this going already!

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anonymous

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We have already heard from your buddy, now lets figure out when this is happening. Is this the way around the Warn Act? Just let us know so we can get in front of the other companies layoffs!
 




anonymous said:
We have already heard from your buddy, now lets figure out when this is happening. Is this the way around the Warn Act? Just let us know so we can get in front of the other companies layoffs!
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WARN act announcement coming soon. They will down play this but remember they did this in 2012 and 2008 too. People only get concerned when it affects them and this time the number of those people will be much larger. Buckle up, it is going to be a rough ride.
 




New to AZ over the past few years. In '12 did they write out lump sum severance checks? Or just continue on payroll for the 13 weeks or whatever? Just asking because it will play a part in the diabetes BMS reps that rolled over a couple years back for vesting purposes in the retirement plans. Thanks.
 








anonymous said:
New to AZ over the past few years. In '12 did they write out lump sum severance checks? Or just continue on payroll for the 13 weeks or whatever? Just asking because it will play a part in the diabetes BMS reps that rolled over a couple years back for vesting purposes in the retirement plans. Thanks.
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It is paid in lump sum with huge tax hit. AZ just wants to clear their books of you as soon as possible.
 




anonymous said:
New to AZ over the past few years. In '12 did they write out lump sum severance checks? Or just continue on payroll for the 13 weeks or whatever? Just asking because it will play a part in the diabetes BMS reps that rolled over a couple years back for vesting purposes in the retirement plans. Thanks.
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I checked with Fidelity about vesting. An employee must be with the company three years to get the 6% contribution. The contract reps that rolled over to BMS will get screwed if they are laid off. Probably all apart of the Grand Plan.
 




anonymous said:
I checked with Fidelity about vesting. An employee must be with the company three years to get the 6% contribution. The contract reps that rolled over to BMS will get screwed if they are laid off. Probably all apart of the Grand Plan.
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Not true. Your 401K is vested from day one. Not sure about the BMS arrangements though.
 




The 401k match is vested right away. The additional defined contribution from AZ that everyone gets is only vested after 3 years. AZ did away with the pension years ago and replaced it with a defined contribution plan that everyone gets. This is separate from the 401k and company match.
 




anonymous said:
Not true. Your 401K is vested from day one. Not sure about the BMS arrangements though.
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BMS got paid to come over and stay put. We are better. We were told to keep it confidential or lose the assets and/or our jobs. Don't believe me, ask any BMSer good enough to earn the incentive that who you trust.
 












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