Severance - The good, the bad and the ugly

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Anonymous

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Ok. Here is my question for those who have been through something like this. How does it work?

Does Merck come up to you and say "Sorry dude, we don't have anything for you" and then you would get your severance?

What if, they offer you a job. You STILL have to interview for it, correct? And if you don't get it then again you would get severance.

What if they offer you a job opportunity (that you still have to interview for) and you turn it down...Do you still get severance in that scenario?

What if they offer you a job but its in an area 2 hours away and you don't want to move, can you decline and say "give me my severance"?
 






Re: Severance - The good, the bad and the ugly12

Anonymous said:
Ok. Here is my question for those who have been through something like this. How does it work?

Does Merck come up to you and say "Sorry dude, we don't have anything for you" and then you would get your severance?

What if, they offer you a job. You STILL have to interview for it, correct? And if you don't get it then again you would get severance.

What if they offer you a job opportunity (that you still have to interview for) and you turn it down...Do you still get severance in that scenario?

What if they offer you a job but its in an area 2 hours away and you don't want to move, can you decline and say "give me my severance"?
Click to expand...

You will find out soon... HA! HA!
 


















Anonymous said:
Ok. Here is my question for those who have been through something like this. How does it work?

Does Merck come up to you and say "Sorry dude, we don't have anything for you" and then you would get your severance?

What if, they offer you a job. You STILL have to interview for it, correct? And if you don't get it then again you would get severance.

What if they offer you a job opportunity (that you still have to interview for) and you turn it down...Do you still get severance in that scenario?

What if they offer you a job but its in an area 2 hours away and you don't want to move, can you decline and say "give me my severance"?
Click to expand...

If you are offered a job and decline, you will not get severance. First 2 scenarios yes.
 












It's my understanding we don't have to interview with Merck and can just take severance. If you do interview and don't agree to the terms (salary, etc), then you can also decline and take severance in that situation. I could be wrong, but that's my understanding.
 
























Offering a similar job with similar compensation leaves the employee no worse off because of a company action, so loss of severance if the job is declined is fair.

A job that requires a long-distance move is not a similar job. Most companies use the IRS definition of a work place more than 35 miles from the previous work place OR a new work place more than 50 miles from home as a move, and many apply even more liberal rules.
 






Anonymous said:
Offering a similar job with similar compensation leaves the employee no worse off because of a company action, so loss of severance if the job is declined is fair.

A job that requires a long-distance move is not a similar job. Most companies use the IRS definition of a work place more than 35 miles from the previous work place OR a new work place more than 50 miles from home as a move, and many apply even more liberal rules.
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Salary reduction? Do I still have to stay? Is that considered rejecting their offer?
 






Read the plan. Total compensation should be the same (salary + target bonus). My concern is they could set a target bonus of $100,000 and who's to prove that's not attainable.
 






In my training class there were 4 or 5 Merck CBMs hired this year alone from their hospital sales force. Reach out and speak with them and I think they'll tell you that the Merck salaries in their hospital sales force are very comparable to ours.

I wouldn't assume that Merck is going to start off a relationship with the Cubist CBMs by forcing the hand of those that don't want to come and cutting their salaries doesn't make sense either. Think about it, how long do you think that they will be able to retain employees that they force to go to Merck? It's just not good business practice.

In my opinion, there could however be changes in the annual target bonus amounts at Merck to be more in-line with their existing plan. That of course would only occur after the deal closes and the existing Cubist plan is over. Just sayin'
 






Anonymous said:
Offering a similar job with similar compensation leaves the employee no worse off because of a company action, so loss of severance if the job is declined is fair.

A job that requires a long-distance move is not a similar job. Most companies use the IRS definition of a work place more than 35 miles from the previous work place OR a new work place more than 50 miles from home as a move, and many apply even more liberal rules.
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Yea but define "SIMILAR COMPENSATION"...I have heard their bonus payouts are about 10k less than what we make if we hit plan. That to me is not "similar"
 












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