Huge Layoffs Coming in October 2024

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anonymous said:
Am I reading my severance agreement right that I can't get a job at another pharma company as long as i'm getting severance?
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That's why I quit after the bonus early this year. The legality of the non-compete / restraint on trade depends on the State in which you performed the work. Good luck out there, it's getting nasty
 












anonymous said:
Am I reading my severance agreement right that I can't get a job at another pharma company as long as i'm getting severance?
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Exactly how would J&J find out that you are working for a competitor if you don’t tell them? Email all the secret sauces to your personal email account before it’s too late. Also make them send you a prepaid FedEx box for your laptop. Don’t waste your gasoline returning it in person, especially if you live in South Dakota.
 






anonymous said:
Am I reading my severance agreement right that I can't get a job at another pharma company as long as i'm getting severance?
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All it means is that IF you get another job, and they find out, you lose your severance. If you manage to land another job during the time you are receiving severance, keep your mouth shut and don’t tell anyone, even people you trust most. I know plenty of coworkers that were laid off last year and got jobs a few weeks to a month later and were getting double paid and didn’t say anything. Best thing that ever happened to them.
 






anonymous said:
All it means is that IF you get another job, and they find out, you lose your severance. If you manage to land another job during the time you are receiving severance, keep your mouth shut and don’t tell anyone, even people you trust most. I know plenty of coworkers that were laid off last year and got jobs a few weeks to a month later and were getting double paid and didn’t say anything. Best thing that ever happened to them.
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Until they file income taxes and we at 410 George Street Corporate Compliance demand a clawback of said severance. Google it, happens all the time, sucker.
 






anonymous said:
Until they file income taxes and we at 410 George Street Corporate Compliance demand a clawback of said severance. Google it, happens all the time, sucker.
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Hahahaha! Oh ya? Because the IRS shares our confidential returns with former employers who breach privacy laws? Please.

The IRS doesn't know or care how many W-2s an individual files. There is no law about W-2 exclusivity (at least that the IRS enforces), and nobody has a return to our returns without our consent.

Your threat is as limp as a wet noodle.

Now, go, organize a meeting or make a slide deck.
 






anonymous said:
Hahahaha! Oh ya? Because the IRS shares our confidential returns with former employers who breach privacy laws? Please.

The IRS doesn't know or care how many W-2s an individual files. There is no law about W-2 exclusivity (at least that the IRS enforces), and nobody has a return to our returns without our consent.

Your threat is as limp as a wet noodle.

Now, go, organize a meeting or make a slide deck.
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P.S. The first quarter of the next gig is always an independent consultancy and signing bonus paid on a 1099. xoxox
 






anonymous said:
Hahahaha! Oh ya? Because the IRS shares our confidential returns with former employers who breach privacy laws? Please.

The IRS doesn't know or care how many W-2s an individual files. There is no law about W-2 exclusivity (at least that the IRS enforces), and nobody has a return to our returns without our consent.

Your threat is as limp as a wet noodle.

Now, go, organize a meeting or make a slide deck.
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anonymous said:
Until they file income taxes and we at 410 George Street Corporate Compliance demand a clawback of said severance. Google it, happens all the time, sucker.
Click to expand...
P.S. The first quarter of the next gig is always an independent consultancy and signing bonus paid on a 1099. xoxox
 












anonymous said:
Exactly how would J&J find out that you are working for a competitor if you don’t tell them? Email all the secret sauces to your personal email account before it’s too late. Also make them send you a prepaid FedEx box for your laptop. Don’t waste your gasoline returning it in person, especially if you live in South Dakota.
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Information Security here - Under no circumstance should an employee email any IP or classified information to their personal account. It WILL be flagged for insider risk. And the organization will take action. You do not want to compound an already terrible situation.
 






A fact I learned from my manager. Purchases made using departmental funds under $1000 do not require approval and will be immediately processed/approved. JnJ doesn't review its accounts and people leveraging this haven't gotten in trouble for this for the past 10 years. So I doubt the IP theft prevention software is as good as you think.
 






For those recently laid off - don't forget to check the unemployment benefits in your state to see if you qualify for those also. Once severance begins you aren't being paid for "work". It may be worth checking the local laws. You deserve what you can get.
 






anonymous said:
Not sure what people means by "free healthcare", they are never free. But we (impacted and ready to retire) got to keep the same healthcare insurance throughout severance period (yes, we still pay our portion). Then, Cobra kicks in till you are 65. After that, Medicare kicks in, and for qualitied JNJ retiree, they get to supplement Medicare with JNJ's Retiree medical. This is my understanding so far. Will be talking to JNJ's Retirement specialist next week to confirm.
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In case people want to know, impacted people should call JNJ benefit. They are very helpful to answer benefit related questions. Instead of what I said above, JNJ insurance will continue to be the primary, and Medicare will the secondary after 65.
 












anonymous said:
For those recently laid off - don't forget to check the unemployment benefits in your state to see if you qualify for those also. Once severance begins you aren't being paid for "work". It may be worth checking the local laws. You deserve what you can get.
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I don't think we get the unemployment in Pennsylvania. But was advised to apply anyway, and see what happen.
 






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