Can anyone confirm that if you are 1) offered a position with Parexel and decline you forfeit your GSK severance? and 2) offered a position with Parexel and accept you DO NOT receive your GSK severance?
Sorry, but of course if you declined an offer, there would be no gsk severance. You've been offered a job and did not take it, so you are not being fired, but have decide to leave on your own. Nice trick, eh?
All people offered Parexel positions are guaranteed 6 months employment and will be salaried at current GSK rate. If Parexel terminates you within 2 years you will receive GSK severance package. Your GSK salary rate is guaranteed for the first year. Also, retirement eligibility is frozen at the time of transition to Parexel. if you are under the 75 points - you are SOL.
Looks like the smart employee will accept the new position and then become a POS and make them severe you. Be sure to contact the EEOC.
The additional perks: -No stock grants -No retiree medical -No raise for 2015 -Reduced bonus after 2015 -Reduced retirement contributions -Half as many paid holidays -Probably also have less vacation days, longer working hours, and a miserable job. All for doing the same job! What a deal.
Sounds like a temporary contract to bring compounds discovered by people who have been eliminated to market in order to benefit those who eliminated jobs
How can GSK get away with making 450 pple take parexel job or nothing. Considering years of service some have put it they are forcing pple to take jobs that they don't want with this company. Why not give them a choice! Is this legal, can they do this?? Just to screw hard working loyal employees who have been there over 20+ years out of their severances?? It's not like going from a pharm company to another pharm company. These jobs are going to a cro company. What benefits does parexel have in taking 450 pissed off GSK employees?
What about those lucky enough to have stock grants in the middle of vesting? Are those lost? or do they vest and received as normal ?
It is legal. In the UK it wouldn`t be since if an employee is transferred to a different employer the terms and conditions stay the same. Welcome to the US and those complaining shouldn`t vote for the GOP who facilitate this. The loss of stock, bonus, vacation etc will be a big hit for the higher grade levels particularly.