1. Gilead may be looking to buy oncology startup Forty-Seven —FDA announces that COVID-19 has caused its first US drug shortage — Passage Bio raises upsized $216M IPO — See more on our front page news TRY TWO WEEKS OF OUR EMAIL NEWS HEADLINES FOR FREE
    Dismiss Notice
  2. Think you have witnessed fraud?Ask a Whistleblower Attorney -- a chance to discuss whistleblower-related legal issues with practicing whistleblower attorneys.
    Dismiss Notice

Severance

Discussion in 'Pfizer' started by anonymous, Feb 11, 2020 at 5:42 PM.

Tags: Add Tags
  1. anonymous

    anonymous Guest

    Is it true the severance package has changed? 1 week for every year vs 3 weeks?
     

  2. anonymous

    anonymous Guest

    I don’t mean to be a smart ass because I don’t know the answer to this question, but if you really wanna know I’m sure you can find it on Pfieldnet.
     
  3. anonymous

    anonymous Guest

    HR source should have the answer.
     
  4. anonymous

    anonymous Guest

    Yes it is now 1 wk for each year of service
    Plus
    90 days on top if you sign a non litigation clause.
    It is on updated on HRSource
     
  5. anonymous

    anonymous Guest

    I hope they never pay a dime of severance because everyone should find another job and quit
     
  6. anonymous

    anonymous Guest

    Pfizer pfucks everyone they can.
     
  7. anonymous

    anonymous Guest

    WTF! I guess the three week “enhanced” severance package was so temporary to accommodate the mass exodus of cluster 1 mgt. Who gives a flip about those of us still here.
     
  8. anonymous

    anonymous Guest

    Exactly! Why does IM get the enhanced but not I & I?
     
  9. anonymous

    anonymous Guest

    Everybody in Global Pfizer has same severance policy as of Jan 1st change to 1wk per year plus 90 days signoff clause.

    IM fell under previous 3wks per year plus 90 days with 60 day Warren period which had existed for 20yrs.
    New CEO, new changes, new benefits, new severence now. Is what it is.
    As in the fine print under the policy "co reserves right to change or alter anytime......"

    If you are staying for a severence, not worth it so if not happy go ahead and leave now. BMS is hiring.
     
  10. anonymous

    anonymous Guest

    Look at history last 20yrs
    Layoffs every 2 yrs
    Pre laoff , DM rep evaluations
    Outside consultants analysis involved
    HQ mgt say no downsizing, looking for product or co or license deal.....
    Future is great
    Stay focus this year is vital
    Bang layoffs announced.
    ,
    Same pattern every 2 yrs
     
  11. anonymous

    anonymous Guest

    if this is true, this has to be the worst severance package in the industry. prove me wrong
     
  12. anonymous

    anonymous Guest

    Wash, rinse repeat
     
  13. anonymous

    anonymous Guest

    so someone with 10 years would get 2 1/2 months of severance.....that's respect for people
     
  14. anonymous

    anonymous Guest

    I’m not saying it’s great -cause it ain’t, But a 10 year employee, would likely get a 60 day warn plus 3 months plus 10 weeks, so more like 8 months total- should have got pfired in 2019, it would have been about 12 months last year.
     
  15. anonymous

    anonymous Guest

    I was seperated last year at the age of 57. Best thing to ever happen to me. I was ready to go , tired of what the field had become. I actually called my area director asking to be chosen and save someone who really still needed the job. Apparently it worked since what was mostly my territory was left open and I was displaced. I had 33 years at that point and ended up getting the Warn period and then 2 years of severance. I am shocked that it went down to 1 week per year. I know 3 weeks per year was excessive but why not down to 2? I would be kicking myself now had I not made that call asking to be let go. I guess it’s possible they just wanted to get rid of me which is fine by me as well. I wish everyone well. It’s amazing how quickly the stress goes away!
     
  16. anonymous

    anonymous Guest

    even the “enhanced” severance package was paltry in my opinion.
     
  17. anonymous

    anonymous Guest

    How so ? It came with three years of health care, way above what others have received. I think what we had previously with 3 weeks per year was excellent. Not so great anymore.
     
  18. anonymous

    anonymous Guest

    What is the current health care offering? one year?
     
  19. anonymous

    anonymous Guest

    Healthcare when severed is basically nothing
    You get 90 days of Cobra then you have to pay for it with your 1 wk pay for each yr of service
     
  20. anonymous

    anonymous Guest

    I was let go as well, but due to health reasons. I had planned to retire soon anyway, but the enhanced severance was a very welcome “going away present”. And with my health issues, the health care coverage really helps, as it will bridge the gap until I’m covered by Medicare. The company was extremely fair, and while my manager and I where not always on the same page the last few years, this person supported me and genuinely took an interest in my physical, mental, and financial health. Along with some great advice (and support) from a person in the office of the ombudsman (a GREAT resource!), I was able to navigate a lot of challenges that my disability and my accelerated retirement presented.

    I have certainly done my share of complaining over the course of my career (especially post-2000), but I was treated with nothing but dignity and respect over the past year, reminding me of the great company I came to work for all those years ago under the guidance of Ed Pratt and later Bill Steere. To those of you still there, best wishes for future success. For those departing, keep your chin up, you’ll do just fine, particularly in this economy.

    And to everyone, don’t ever take your health for granted. I exercised, kept my weight under control, and saw my doctor regularly. But something out of left field, perhaps a nagging issue you’ve “just lived with”, can easily lay you low. I’m alive, and every day is a blessing, but money can’t buy your health. If it could, I wouldn’t be in the position I’m in now. Take care of yourself, get things checked out early, and enjoy your health and your youth. Live a little. That awesome, action-packed retirement you foresee may not go according to plan.

    And if you know a recent retiree or someone who’s been separated, don’t be afraid to reach out and see how they’re doing. It will bring some sunshine into their life, I guarantee it.