AZ severance is two years for every year of service with no less than 12 weeks regardless of how long you've been with the company. If your company is bought out by a competitor, does the severance package increase?
This is so awesome. I have been waiting for us to taken by Pfizer. I heard this was being considered late last year. The board of directors have been looking for an out for over a year. This takeover will be a huge win for shareholders. We will get severance and job placement assistance. I will retire early. The rest should find work outside the industry. There is very little future in Pharma.
The severance is the same package that your current company has unless your senior leadership negotiates an upgraded package with company. The Pfizer severance package is not good anymore as the ATS package of 13 weeks plus 3 weeks per year with your bonus included in the calculations has expired. As for the car. Your gas card will be shut off by the end of the day you are laid off and they will look to take back car immediately. I think it is the WARN period then 2 weeks per year without bonus in the calculation. Good luck
The only people who will come out of this with a bucket of money are the top executives who will cash in their stock options and head for their next opportunity to rob and rape another company. Don't you think Pascal knew this when he came to AZ?
Not a bad two year gig. Create nothing, change nothing, do nothing and collect a couple hundred million for your time.
As a legacy Wyeth employee who went through the Pfizer acquisition, I honestly feel bad for you guys if this happens. It is one of the more unpleasant experiences of my life. Regardless of what they tell you, they will slowly weed out all AZ people and look for any way possible to screw you. Believe me, you DO NOT want this deal to happen!
