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As someone who's watched this happen a couple times I definitely agree. Furthermore, the earlier the cycle you're in the better your packages tend to be. The fi
by iigs 18y ago
As someone who's watched this happen a couple times I definitely agree. Furthermore, the earlier the cycle you're in the better your packages tend to be. The first round got great severance. The second round got a small package IIRC, and they missed payroll on round three, which is like getting -2 weeks of salary, pretty sleazy, IMO.
- gaius 18y agoBoth times for me were when the company decided to stop doing what I did. The first time, the company got out of technology altogether to concentrate on its strategy consulting business, all the engineers except a skeleton crew for maintenance were laid off in one go. Sucked to be one of the engineers they kept! The second time was the company shifting from products to services. They said you can have X months money and leave now, or X/2 months paid to find a job somewhere else in the company (and then nothing). I didn't look back. In both cases, senior managers know they're in trouble but think they can get themselves out, there's still plenty of cash in the kitty and they need to preserve the appearance of confidence, so they'll pay fair severances. When it gets desperate - then it's everyone for themselves.