severance

Discussion in 'Shire' started by Anonymous, Jul 22, 2014 at 5:33 PM.

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  1. Anonymous

    Anonymous Guest

    Tell me abbies severance package really doesn't equate to 1 week of pay per year of service, and possibly an additional 1/2 week pay per years over the age of 40. Tell me, thats a dirty lie and the internet is just filling my head with untruths and incorrect information. TELL ME.
     

  2. Anonymous

    Anonymous Guest

    >.>
     
  3. Anonymous

    Anonymous Guest

    plus the 8 weeks WARN
     
  4. Anonymous

    Anonymous Guest

    So it's looking like the execs screwed us and they're expecting business as usual results?
     
  5. Anonymous

    Anonymous Guest

    What's 8 weeks Warn mean?
     
  6. Anonymous

    Anonymous Guest

    It's also pretty standard to have a minimum of 12 weeks pay after the warn period. Then additional based on service...pray that's the case here.. I know I am...
     
  7. Anonymous

    Anonymous Guest

    This needs to be addressed ASAP.
     
  8. Anonymous

    Anonymous Guest

    Two weeks is pretty standard in pharma, along with sixty day warn after being let go. You will also have a week or so warn that announcements are coming along with any unused vacation. I've been through this before. Abbvie will have to keep us for a certain period or be subject to Shire severance or whatever has been negotiated. Do enough to get by over the next year, while searching for new opportunities. Sharpen up your resume and put yourself in the drivers seat. Lots of opportunity out there.
     
  9. Anonymous

    Anonymous Guest

    That's sound advice and an optimistic outlook.

    So far this feels like the company that I've dedicated myself to for over a decade is showing no dedication to us. Had there been any real conviction to support the Shire employees, the possible severance packages would have been an integrated part of the merger deal. It wasn't, and now it looks like we're going to be hung out.
     
  10. Anonymous

    Anonymous Guest

    No its not standard to have 3 months after WARN then additional based on service. repeat again... Abbvie is 2 months WARN, then one week each year of service, plus 1/2 week based on # years over 40. no matter what the maximum time is 39 weeks. yes, Shire did screw you if they didnt hardball keeping their own severance pkg for a certain time. but maybe they got a guarantee to keep your jobs, who knows? as stated before, Abbott lets their own go first before acquired companys reps.
     
  11. Anonymous

    Anonymous Guest

    Warren Act requires 60 day notice (with pay) after getting the notice.
     
  12. Anonymous

    Anonymous Guest

    Not always. Over 500 jobs involved in layoff its 60 day, anything under that its 30 days.
     
  13. Anonymous

    Anonymous Guest

    Hey idiot, it's WARN not Warren.
     
  14. Anonymous

    Anonymous Guest

    Thanks for the update Flem!
     
  15. Anonymous

    Anonymous Guest

    Never any updates! What a joke! Here's another update, I can't tell you anything! But, let me count my millions.
     
  16. Anonymous

    Anonymous Guest

    You heard it here first the severance package with be an insult. Most companies do a minimum of 6-12 weeks plus 2 weeks per year minimum. Great companies have done 6 months minimum plus 2 weeks per year. However our severance was negotiated in the buyout. It was negotiated that shires current severance policy for change of control would be to costly and that ABBVie could come up with a more cost effective plan. Ie; pay out less. Expect the plan to be 1 week per year. Also expect cuts to happen between thanksgiving and Christmas. You heard it hear first folks. Save what you can. Don't take vacation. Every penny will matter. It will be massive. Geography, rank, reviews. In that order.
     
  17. Anonymous

    Anonymous Guest

    Oh and RD's have a say in rank somewhat. They can make up to a 5-6% goal adjustment from one rep to another if they so choose.
     
  18. Anonymous

    Anonymous Guest

    More then likely a dumb series of questions but:

    If the change of control severance policy can be overruled so easily, why was it in place?

    Since there was a change of control policy in place, do we legally have any rights to keep the policy in place?
     
  19. Anonymous

    Anonymous Guest

    I think you may be on to something. I wonder if it's something that can be discussed with a labor attorney. It may vary by state. I haven't seen the actual document and in the end shire can do what they want. However, I am leaning with you. It's in place for a reason and one would think legally binding. However, we are still a independent company so who says they haven't changed it already? If they haven't, I would get a copy of it. Read the small print and consult one. Especially since it would cost little or nothing to have an attorney look at it for you have the legal plan benefit. I don't think its fair to have this policy in place then negotiated it away in change of control.

    Lastly has anyone thought to think they are using Abbvies policy because ABBVie will experience the cuts not us? Then do away with shire folks after the integration? This is one way to get out of the change if control policy.
     
  20. Anonymous

    Anonymous Guest

    i was also wondering if we have legal rights regarding this matter...perhaps i will use my legal benefits from Shire and check into it