Question: Ok so what about T1 Bonus and being kept whole?? When one of us is leaving

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Anonymous

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So rule of thumb is that you cannot make bonus if you are not employed on the date of payout.

So if neither of the counterparts will know who stays and who goes until early April.....and by the way going is not a bad thing

Then what about T 1 Bonus for results....you surely cannot tell me they will only pay the one remaining? And why would both work hard to drive #'s if only one or neither get a T1 bonus?

So there has to be a formula for the T1 bonus in this mix of April let go, pay to June, and then severance according to tenure.

Please share your insight.
 






Re: Question: Ok so what about T1 Bonus and being kept whole?? When one of us is lea

The warn act is 60 days so if it's April your officially let go then you will get notice in Feb. Or are they starting the warn act in April.
 












Re: Question: Ok so what about T1 Bonus and being kept whole?? When one of us is lea

Cannot be the warn act, because both counterparts are in the dark until April notification.....hence why I started the thread
 


















Re: Question: Ok so what about T1 Bonus and being kept whole?? When one of us is lea

Anonymous said:
The warn act is 60 days so if it's April your officially let go then you will get notice in Feb. Or are they starting the warn act in April.
Click to expand...

They let you know on April 2 so 60 days from then is when the severance takes effect
 


















Re: Question: Ok so what about T1 Bonus and being kept whole?? When one of us is lea

You'll get paid..they notify us in april. the Warn act goes into place on that date (look at past years Reps found out Dec 4, 2010 ..were paid until Feb 2011 and still got their IC1 and IC2 Bonuses)..in the past layoffs Novartis has always paid out the bonus ..(They do everything based on CYA..Their ass not yours)..You'll get your $1000 bonus ..
 






Re: Question: Ok so what about T1 Bonus and being kept whole?? When one of us is lea

Make sure you all clear on one thing

90 days is the first level severance that everyone gets

Tenure people will be getting an additional calculated amount after the 90 days

the amount into june will be paid as regular paychecks
 






Re: Question: Ok so what about T1 Bonus and being kept whole?? When one of us is lea

Anonymous said:
Make sure you all clear on one thing

90 days is the first level severance that everyone gets

Tenure people will be getting an additional calculated amount after the 90 days

the amount into june will be paid as regular paychecks
Click to expand...

The warn act is 60 not 90 days
 






Re: Question: Ok so what about T1 Bonus and being kept whole?? When one of us is lea

Anonymous said:
Make sure you all clear on one thing

90 days is the first level severance that everyone gets

Tenure people will be getting an additional calculated amount after the 90 days

the amount into june will be paid as regular paychecks
Click to expand...

Are you saying that the severance is only 3 months? I wouldn't call that enhanced
 
























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