Severance package

[anonymous]

I am fully expecting to get restructured this go around. Do we know what the severance package is for someone with less than 2 yrs at Biogen? Also is your termination date on the exact date of restructuring or do they give you a few weeks to close out? Thanks and good luck to all

 

[anonymous]

I believe it’s 1 month salary for every year you have with the company but capped at 12. So if you have been here 2 years you get 2 months worth salary. If you have been here 12 years, 12 months salary. Anyone with more than 12 years worth still only gets 12 months. Good luck all!

 

[anonymous]

For those who were impacted in June, it was 12 weeks, plus 1 week for each completed year of service. Those I spoke with personally all were at 4 years of service or less. I’ve been told the numbers change with more service and may include some percentage of unvested options depending on the age of the employee impacted. Do not know if it varies based on department or classification level of the FTE.

 

[anonymous]

For those who were impacted in June, it was 12 weeks, plus 1 week for each completed year of service. Those I spoke with personally all were at 4 years of service or less. I’ve been told the numbers change with more service and may include some percentage of unvested options depending on the age of the employee impacted. Do not know if it varies based on department or classification level of the FTE.

Ewwwwww........

 

[anonymous]

Good luck to all! I’m in MS my manager says we are safe. I just pray that it doesn’t impact as many in the other divisions.

 

[anonymous]

Good luck to all! I’m in MS my manager says we are safe. I just pray that it doesn’t impact as many in the other divisions.

We are not safe

 

[anonymous]

Anyone impacted today care to share the severance offered?

 

[anonymous]

Good luck to all! I’m in MS my manager says we are safe. I just pray that it doesn’t impact as many in the other divisions.

No one is safe with the smiling killer on the loose.

 

[anonymous]

I know someone who has been here over 16 years and got 52 weeks pay. Not sure about insurance.

 

[anonymous]

Anyone impacted today care to share the severance offered?

2 weeks for every year of service with insurance - that’s it

 

[anonymous]

2 weeks for every year of service with insurance - that’s it

did they pay out pto and sick?

 

[anonymous]

Did they give 60 days and then the 2 weeks per year? What about vacation? Stock options?

 

[anonymous]

2 weeks for every year of service with insurance - that’s it

This doesn't seem right if someone who was here 16 years got 52 weeks. Not sure it's as simple as 2 weeks per year.

 

[anonymous]

did they pay out pto and sick?

vacation is always paid out. you accrue it as you work so it counts as time you've already earned and it cannot be legally taken away. Sick is not paid out and neither is stock.

 

[anonymous]

vacation is always paid out. you accrue it as you work so it counts as time you've already earned and it cannot be legally taken away. Sick is not paid out and neither is stock.

The higher ups get their stock RSUs vested or cash equivalent. It’s to avoid costly litigation.

Not the grunts though.

 

[anonymous]

vacation is always paid out. you accrue it as you work so it counts as time you've already earned and it cannot be legally taken away. Sick is not paid out and neither is stock.

Sick gets paid out in some states, including Massachusetts.