Layoffs?

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Just got the fun “sensitive meeting/clear your schedule” meeting from my director + HR. I’ll keep you all updated with what severance package I get. Been at the company <1y, and ~level 9-11
 


















anonymous said:
Just got the fun “sensitive meeting/clear your schedule” meeting from my director + HR. I’ll keep you all updated with what severance package I get. Been at the company <1y, and ~level 9-11
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hope you get a good package! I'm the same level and also been at the company less than a year. Refreshing my email every 2 min to check for a meeting. Good luck!!
 




































anonymous said:
what does it mean “with payroll till end of month” - meaning the rest of October isn’t part of the 13 weeks?

did they say anything about insurance?
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Regular pay until october 27 so the rest of october is not part of the 13 weeks. Paid until the end of the month, then 13 weeks severance. Insurance subsidy for the same amount of time as severance. talked to someone else who got more severance but they've been here longer than me.
 












anonymous said:
Regular pay until october 27 so the rest of october is not part of the 13 weeks. Paid until the end of the month, then 13 weeks severance. Insurance subsidy for the same amount of time as severance. talked to someone else who got more severance but they've been here longer than me.
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this was what I received as well, I’m the level 9-11 person above^^^
 


















Just curious, why did people stay just to get fired? Isn’t it harder to get a new job with title/pay bump when unemployed? Also no bonus roll over.

maybe people just want the severance vacation. I’m not judging, just confused. These layoffs were 100% telegraphed.
 






anonymous said:
Just curious, why did people stay just to get fired? Isn’t it harder to get a new job with title/pay bump when unemployed? Also no bonus roll over.

maybe people just want the severance vacation. I’m not judging, just confused. These layoffs were 100% telegraphed.
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Many think they can find and start a new job within a few weeks so it’s a new job + that severance payout = a lot of extra money. But I agree, it’s risky and often times you have to take a step back in title and salary.
 






anonymous said:
Many think they can find and start a new job within a few weeks so it’s a new job + that severance payout = a lot of extra money. But I agree, it’s risky and often times you have to take a step back in title and salary.
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Ok thanks for the explanation.

Probably makes sense for a rep. Double dip for a couple months of pay.

For management level employees, getting terminated can be a disaster because you lose your LTI RSUs and it takes time to rebuild. Also you burn the title and salary bump that is basically assured with a move between companies. It’s for sure a six to seven digit mistake.
 












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