this post was submitted on 18 Oct 2023
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Take the severance package. If they are offering a severance package then they are already planning a layoff and are just taking volunteers first. Trust me, this is exactly what happened in tech this year. Take the package or face layoffs / gatting managed out.
Going to hammer hard on this too! Happened to me a few years ago.
This is definitely the goal. And those "loyal" who stay have a dice roll chance to get laid off with nothing later down the line.
This is exactly what happened to my dad during the .com crash. He worked for Enron, worked in server maintenance. Waited around as everyone got laid off because they said they would keep him, he was the best but not the most senior. Push came to shove and with only 4 people left in the department the higher-ups had to cut one more or take less money. They decided to cut my dad. By then the industry in that city was packed with Enron refugees so my dad had nowhere to go. We lost everything. Seriously y'all, cut your losses it's not worth it. Just find somewhere else that's more stable.
Read the details first though and compare to what else you can find out. Some companies are sneakily reducing severance package standards just for remote employees. It may be better to just aggressively job hunt while still getting a full paycheck as long as possible.
Could be. But it’s also a wise choice even if they have no layoffs planned.
Let’s say they don’t offer voluntary severance. It’s just RTO or quit. Lots of people will grudgingly RTO while they look for a new job. That makes their time of departure unpredictable and it means they’ll be disgruntled as long as they’re still around. Why not just rip off the band aid, invite these people to leave immediately, and help them do so? You can move on from that.
And maybe by shedding these people, they can actually avoid a layoff.
Paid severance is a tip-off that a layoff may come, but RTO is also a big fucking deal and I could see it possibly having a paid severance component even with no layoffs in sight. Possibly, mind you.
What's the benefit of VR over IR? I'd have thought the terms would be better with IR, plus you get to be paid a salary for longer
It depends on the package they are offering.
Can't you just take the severance package when you get laid off?
Severence pay is not mandatory everywhere. So you might get nothing if you are laid off.
California it is. WARN act.