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Has your office / company laid people off or are you expecting layoffs? PART 8 - Page 21 - Beyond.ca - Car Forums

View Poll Results: What is your current employment status?

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  • I was laid off and haven't found SIMILAR work yet

    11 5.67%
  • I was laid off and found a new job in the same industry

    13 6.70%
  • I was laid off and found a new job/career in a different industry

    11 5.67%
  • I'm still plugging along with the same company I've always been with

    97 50.00%
  • I quit my job and went elsewhere

    21 10.82%
  • We're all fucked

    42 21.65%
  • Other

    4 2.06%
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Thread: Has your office / company laid people off or are you expecting layoffs? PART 8

  1. #401
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    Quote Originally Posted by dirtsniffer View Post
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    A friend of mine was laid off there 3-4 years ago and recieved a year severance.
    Industry wide rumour is that severances have been getting worse and worse over time. Of course that's hard to verify or quantify.

    Good luck out there friends.

  2. #402
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    Quote Originally Posted by ExtraSlow View Post
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    Industry wide rumour is that severances have been getting worse and worse over time. Of course that's hard to verify or quantify.

    Good luck out there friends.
    A lot of truth to that rumour. Generally, you want to be in the first waves of the layoffs - as time goes on, there is less and less cash for payouts. If a company is hanging on, they are less generous.

  3. #403
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    They may offer less, but there is plenty of case law around what a package should look like. Should be around 3-4 weeks for each year of service based on total comp for the beyond executive type

  4. #404
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    Quote Originally Posted by dirtsniffer View Post
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    They may offer less, but there is plenty of case law around what a package should look like. Should be around 3-4 weeks for each year of service based on total comp for the beyond executive type
    Right, but its not cheap to go after more. If you there 4 years and get 12 weeks... That's a lot to burn on a lawyer to try and get an extra 4 weeks. Not to mention if you get a job before 12 weeks and haven't settled with the company yet you sort of become SOL and stuck with lawyer fees (vague memory of chatting with a lawyer about 1.5 years ago).
    Last edited by lasimmon; 06-19-2019 at 09:27 AM.

  5. #405
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    Quote Originally Posted by dirtsniffer View Post
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    They may offer less, but there is plenty of case law around what a package should look like. Should be around 3-4 weeks for each year of service based on total comp for the beyond executive type
    Yea the beyond exec types have pre-negotiated golden parachutes. Duh.

    I agree with the above GFL sueing for anything meaningful.
    Originally posted by Thales of Miletus

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    Quote Originally Posted by Yolobimmer View Post
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    guessing who I might be, psychologizing me with your non existent degree.

  6. #406
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    Just be smart like me and voluntarily switch jobs right before the downturn. Nothing like having zero tenure.....

  7. #407
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    Quote Originally Posted by dirtsniffer View Post
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    They may offer less, but there is plenty of case law around what a package should look like. Should be around 3-4 weeks for each year of service based on total comp for the beyond executive type
    Wasn't legally only 2 weeks per year of service?

    And didn't Chevron laid off only paid out legal minimum?

  8. #408
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    Quote Originally Posted by Xtrema View Post
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    Wasn't legally only 2 weeks per year of service?

    And didn't Chevron laid off only paid out legal minimum?
    You can argue for more based on common law. Companies should be giving what sort of industry standard is. My chatting with a lawyer sort of indicated things have changed in the market and its extremely hard to get more these days.

    Your best bet is to go back to your employer and ask for more without using a lawyer. See where that takes you.

  9. #409
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    Quote Originally Posted by lasimmon View Post
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    You can argue for more based on common law. Companies should be giving what sort of industry standard is. My chatting with a lawyer sort of indicated things have changed in the market and its extremely hard to get more these days.

    Your best bet is to go back to your employer and ask for more without using a lawyer. See where that takes you.
    https://www.canada.ca/en/employment-...rmination.html

    So I was wrong, legally it's only 1 week per year of service.

  10. #410
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    What does the first sentence even mean in relation to the second? It's confusing.

    "They are entitled to two days' regular wages for each full year that they worked for the employer before their termination of employment. The minimum benefit is five days' wages."

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    Quote Originally Posted by Disoblige View Post
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    What does the first sentence even mean in relation to the second? It's confusing.

    "They are entitled to two days' regular wages for each full year that they worked for the employer before their termination of employment. The minimum benefit is five days' wages."
    I would say if you worked there:
    1 year you get 5 days pay for severance
    2 years you get 5 days pay for severance
    3 years you get 6 days pay for severance
    4 years you get 8 days pay for severance
    5 years you get 10 days pay for severance...and so on.

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    Anyone know what executive severances are like? A friend's dad got laid off from Conoco when Cenovus bought them out and was an executive VP with over 30 years with the company. If they did 3-4 weeks salary X years worked that would be like $700K. If it was one week, it would be more like $150K

    I worked with a VP before as well who got laid off and I am not sure how many years of service he had, maybe 4 or 5, and he got $9XX,000 severance which was about 4X salary. This was back in 2010-11 though.
    Last edited by Mitsu3000gt; 06-19-2019 at 01:54 PM.

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    Check the shareholders' agreement, often executive compensation is explicitly stated in there.

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    Quote Originally Posted by dirtsniffer View Post
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    They may offer less, but there is plenty of case law around what a package should look like. Should be around 3-4 weeks for each year of service based on total comp for the beyond executive type
    Agree with this. Courts will consistently award professional engineers 1 month per year of service regardless of duration up to a max payout of 24 months.
    A company that rhymes with PoorleyWarsons got their bag sued off when some idiot in HR decided they should go legal minimum and tried to give 8 weeks to workers with 20+ years. That's the same offer an 8-yr employee would get. Someone called a lawyer and started a case then shared that lawyer's info and it spread like wildfire.
    For $8k in legal fees, a guy with 24 years could get $400k instead of $31k... No Marth required.

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    I knew a CEO of a well known O&G intermediate who got pushed out of the company to the tune of $10++ Million. He laughed all the way to the bank especially considering the direction the company went afterward.

    Moral of the story: exec severance can be wack
    Originally posted by Thales of Miletus

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    Quote Originally Posted by Yolobimmer View Post
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    guessing who I might be, psychologizing me with your non existent degree.

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    Quote Originally Posted by Mitsu3000gt View Post
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    Anyone know what executive severances are like? A friend's dad got laid off from Conoco when Cenovus bought them out and was an executive VP with over 30 years with the company. If they did 3-4 weeks salary X years worked that would be like $700K. If it was one week, it would be more like $150K

    I worked with a VP before as well who got laid off and I am not sure how many years of service he had, maybe 4 or 5, and he got $9XX,000 severance which was about 4X salary. This was back in 2010-11 though.
    Severance is capped at 2 years comp unless agreement states otherwise.

  17. #417
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    Executive severance is amazing and usually not tied to years of service particularly if that executive was headhunted into that position.

  18. #418
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    Quote Originally Posted by lasimmon View Post
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    Severance is capped at 2 years comp unless agreement states otherwise.
    This is true - exceptionally rare to find otherwise in case law. In the early days of the bust usually companies would pay healthy amounts, as it continued it became more conservative. Different companies try different approaches, some organizations try to go on the more generous side of things to avoid litigation and legal costs, others go lowball and budget that X% will come back and they will have to eat into their legal retainers.
    Originally posted by arian_ma
    your stomach is full of sulfuric acid

  19. #419
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    HR will also take into account employee's age and how likely or easily that person could reasonably be expected to find another job. Or at least that's what I have heard.

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    The company (small oilfield service company) I work for just laid off about 10% of its field and shop staff yesterday.

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