severance package?

Discussion in 'GlaxoSmithKline' started by Anonymous, Oct 15, 2014 at 2:11 PM.

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  1. Anonymous

    Anonymous Guest

    Does anyone have accurate knowledge about the severance package last time GSK had a mass layoff? I've heard of different versions. The common element seems to be 2 weeks for per year of service. Was there a base? How many weeks if so?
     

  2. Anonymous

    Anonymous Guest

    This was just discussed on another thread. The policy is on the intranet. Nothing has changed at this point.
     
  3. Anonymous

    Anonymous Guest

  4. Anonymous

    Anonymous Guest

    Pretty sure if you are a non protected class male GSK is going to sever your package.
     
  5. Anonymous

    Anonymous Guest

    Haha very funny. Now can someone answer my question (or give me some instruction on where to find that info on Intranet)?
     
  6. Anonymous

    Anonymous Guest

    who the hell are you anyway. sounds to me like you don't even work at GSK. The tone of your message is way too vanilla.You have to be a sarcastic A-hole to work at GSK
     
  7. Anonymous

    Anonymous Guest

    2 weeks per year of service severance. Minimum 12 weeks. Max I believe is 78? weeks. Mass layoff WARN gets you 60 days paid and employed before previous kicks in, but stop work immediately. Unused vacation earned payed out. Health benefits through severance period. COBRA eligible for 18 mo. inclusive of severance period (you pay premiums for time post severance). Bonus dependent on timing. Target payout if before eval point. If after, based on performance outcome. If you have grants, 100% for next vest, 67% for one after that and 33% for latest. Any options hopelessly under water. This is no secret, and should be widely known. Incompetent HR and systems make it hard to come by.

    Oct. 31st would be WARN timing to have people "off books" for January 1st, but will likely delay and roll into Novartis transaction confusion. Bide hour time or find something substantially better before then.

    Good luck and God bless.
     
  8. Anonymous

    Anonymous Guest

    Just a couple things. Max is 52 weeks. it is on the intranet. With the WARN act, there is the 60 days notice. However, you do need to work during that time if directed by the company. If you don't, you could be at risk in getting a severance as you need to be in good standing.
     
  9. Anonymous

    Anonymous Guest

    You normally don't work during a warn period. Consider it 2 months severance.
     
  10. Anonymous

    Anonymous Guest

    Wrong. Under a WARN notice, you are letting people know that you will be having a reduction of a certain amount. You are not saying which specific people will be eliminated. Under your assumption, a whole company could stop working and that is not the case. During the WARN period, companies will then institute their selection/deselection process and make the decisions of whom will be eliminated.
     
  11. Anonymous

    Anonymous Guest

    I'll do whatever I want. They can't force me to work. I am going bowling, then to the movies, then to the bar. Don't tell me what to do!
     
  12. Anonymous

    Anonymous Guest

    Look pal, I have been through one of these. Reps are given the 60 day warn notice, and aren't expected to work. You couldn't be employed by another company during the 60 days but the reps didn't work!! So it was two months of warn, plus severance months reps didn't work.
     
  13. Anonymous

    Anonymous Guest

    Thanks a lot for this info! So for those that have served 6 years or less, 12 weeks of pay that's it? Or, would they take 12 weeks as the "base" before adding years of service? So in that way, for someone who has served for 6 years, it would be 12 + 6*2 = 24 wks?
     
  14. Anonymous

    Anonymous Guest

    Sorry, but you are WRONG. A simple google search would tell you otherwise and we also have examples in our company to look at. The WARN act requires notification when 50 or more people in a location are at risk of losing their job. It does not say specifically Who is losing their job. People are expected to continue working unless they are notified by the employer. If you stop working by your own decision, then that is non-performance. Stop giving out faulty advice that could cause harm to someone else.
     
  15. Anonymous

    Anonymous Guest

    Dude many of us stopped working a long time ago. Sit in my and play on cf and video games all day.
     
  16. Anonymous

    Anonymous Guest

    I don't need Google. This is how it has happened with this company! It went down like this...stay home on a Friday, script read to you about being let go, at this point company provided 60 days warn to reps without the requirement of working, plus they added 2 weeks of severance for every year of service.

    That is HOW it went down. Not trying to hurt anyone just sharing some history.
     
  17. Anonymous

    Anonymous Guest

    Sorry, Sluggo, but you are wrong. We have seen several downsizings and there was no 60 day "vacation". We have also had several deals in the past few years (HGS, Stiefel, etc) in which there were large numbers cut with no 60 days off. Instead, there was a notice, followed by a selection process and then eventually cuts.

    We know why you also don't want to Google it. It is because you are WRONG. People would be stupid to listen to you and then find out your advice costs them a nice check.
     
  18. Anonymous

    Anonymous Guest

    I also took the voluntary severance a few years ago, 4, then was followed by forced cuts 3 weeks later. Yes there was a warn notice given, 60 days, but really, seriously who wanted to work, not even the DM's. We all just put in our time, that was it, check the box. The last month, no one did anything, but you couldn't officially leave until the final date on your paperwork. Just life, was ready to move on anyway after many years with GSK. I'm sure someone will try and find fault in this, but that's how it went down. Good Luck ALL.
     
  19. Anonymous

    Anonymous Guest

    Luck has nothing to do with it, unfortunately. Get yer affairs in order! We haven't had a good launch in awhile. In addition, there are far too many of us (GSK and competitors) out there, scrabbling over the few offices with open access.
     
  20. Anonymous

    Anonymous Guest

    It is up to the company. Why would they want you out working if you know you are going to be laid off? Think of the damage one could do.