Severance Package from Ethicon - Things to think about if you might be severanced...

[Anonymous]

Watch out...Ethicon offers minimal severance....only includes your salary and NO bonus...even if you hired on with a guaranteed amount when you were not on bonus they do not include the guarantee.

Also - no education reimbursement with packages like other companies offer

Also - once you are on Cobra your medical cost will be $1700 month for a family...who can afford that?

Also - You can make almost as much by collecting unemployment...so why sign it?

Also - they will take your company car quickly so make sure you have enough saved to go out and buy a car.

Also - Make sure you get a personal cell phone number so others can get ahold of you while you wait to get your previous number transferred back. When you are job hunting and they take the number you have had for several years and future employers are trying to get ahold of you and can't...it's bad.

Also - Life Insurance - it does not transfer over at a good fee...I found I could go out on my own and get a better rate based on what the insurance agent they transferred my policy over to quoted me. Really they just call to try to get you as a new customer not offering any special deals so - don't bother staying with MetLife or even talking to the rep it is a waste of your time. You can call up a friend who sells insurance and get the same pricing. Some companies extend their discounts to severed employees so you are getting a good deal...JNJ did not think far enough ahead to take care of severed employees.

SOME TIPS IF YOU ARE LEAVING
*Spend all of your HSA account - even if you haven't contributed the full amount, spend it by law they have to give it to you.
*Get all prescription refills completed with a 90 day script on the last day you have insurance.
*If you purchase any disposable items stock up while you are employed...ie CPAP supplies, diabetic supplies
*Make any last minute long trips on your company car while you still have it...the gas is free.
*Give the company a nice review on cafepharma....maybe/maybe not...
*Connect with several company associates and keep in contact if you so desire to stay...maybe/maybe not?

 

[Anonymous]

Re: Severance Package from Ethicon - Things to think about if you might be severanced

Print out copies of the severance plan, benefits plans, retirement data, and other policies you will continue to use after termination.

Assume your badge, AMEX, phone cards, cell phone, and laptop will all be collected immediately. Download and backup your contact list, internet favorites and password lists ahead of time. Wipe your electronics of any personal information. Remove any valuables/personal papers from your office and car ahead of time.

Make copies of any IP you have filed.

Fill your prescriptions and turn in your expense reports. Stock up with a last buy from the J&J store.

Take your time on the day of the meeting. Sign only that you had a meeting and received the document package. Get through it gracefully. It isn't easy on either side of the desk. In most cases, you were just the right or wrong pawn on the chessboard at any given time.

Take the offered package with you to review and sign later. Use legal counsel who has negotiated with your company in the past to ensure you remain eligible for unemployment and other benefits.

Take a vacation. You have earned it. Life is EXCELLENT after J&J.

 

[Anonymous]

Re: Severance Package from Ethicon - Things to think about if you might be severanced

DO NOT Take another position with JNJ - no re-location is paid and with their history of layoffs why up root your family.

Really don't worry about any non-competes. They eliminated YOU and if they come after you they will loose in court for putting your family into a financial hardship. These layoffs were NOT performance related....

 

[Anonymous]

Re: Severance Package from Ethicon - Things to think about if you might be severanced

DO NOT Take another position with JNJ - no re-location is paid and with their history of layoffs why up root your family.

Really don't worry about any non-competes. They eliminated YOU and if they come after you they will loose in court for putting your family into a financial hardship. These layoffs were NOT performance related....

 

[Anonymous]

Re: Severance Package from Ethicon - Things to think about if you might be severanced

DO NOT Take another position with JNJ - no re-location is paid and with their history of layoffs why up root your family.

Really don't worry about any non-competes. They eliminated YOU and if they come after you they will loose in court for putting your family into a financial hardship. These layoffs were NOT performance related....

I don't take advice from anyone who doesn't know the difference in "lose" and "loose"

 

[Anonymous]

Re: Severance Package from Ethicon - Things to think about if you might be severanced

I don't take advice from anyone that has a BIG "L" on their forehead. Try to let out your agression somewhere else. Maybe if you hit your head against the wall enough the L will wear off. Have a nice day. Tylenol will work for your head ache perhaps.