Originally Posted by
downtube42
We have an announced reduction in force, and for reasons I don't need to explain here I'm at significant risk for being RIFfed
Generally there's a severance offer based on years of service. I have not heard anything this year, but in the past it's been as much as 1 month per year of service, which would be 15 for me. I'm guessing significantly less this time, but I don't know. You're given the option of a lump sum or continued paychecks with full benefits for the duration. The cost is signing a paper saying 1) I won't sue, 2) I won't go to work for a supplier, and 3) I won't go to work for a competitor. Refuse to sign the paper and I walk out with nothing. Terminated exempt employees are permanently ineligible for re-hire.
15 months pay would be a no-brainer, a virtual lottery win. But what if it's 3 months or 2 months or 1? The reduced employment options hurt - many of my professional contacts will be unable to help.
I had 10 years, signed the paper, got my money, didn't go to work for anyone during the time period. I kept my word on taking other employment while "on the payroll". I've been told that those with less integrity have taken jobs during that period without remorse. If you sign the agreement, IMO, you are obligated to live up to the conditions, even if it's to your detriment. Not a popular answer, hope you aren't offended. BTW, my experience was not "optimal" to quote a famous player.