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Thread: 2021 layoffs MEGA THREAD (Part 9, by popular demand)

  1. #201
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    Quote Originally Posted by nzwasp View Post
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    A suncor employee told me last week that they are now being told the layoffs will occur in the Calgary and site offices over the next 18 months.
    Remember Shaw wants to package out people and half the company got their hands up? I'm sure this is part of the plan to get people put their hands up.

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    Voluntary is awesome.
    Let's all work on positivity this week.

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    Quote Originally Posted by ExtraSlow View Post
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    Voluntary is awesome.
    Heard it could be 30mths of compensation. May get some at the edge of retirement to go.

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    Quote Originally Posted by Xtrema View Post
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    Heard it could be 30mths of compensation. May get some at the edge of retirement to go.
    As someone completely removed from this kind of stuff, is it normally regular paycheques for that long, or cash up front?

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    Based on my friends who recently went through layoffs, it's cash upfront. Apparently the EI requirements have been modified during covid so you can also start collecting EI immediately, even with the upfront severance package.

  6. #206
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    Quote Originally Posted by Tik-Tok View Post
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    As someone completely removed from this kind of stuff, is it normally regular paycheques for that long, or cash up front?
    Usually cash upfront but some places give you the option to defer severance to Jan 1 of the next year for tax purposes

  7. #207
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    Quote Originally Posted by Tik-Tok View Post
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    As someone completely removed from this kind of stuff, is it normally regular paycheques for that long, or cash up front?
    Cash upfront after taxes when I went through mine and I couldn't be eligible for EI until the date stated in my severance package.


    Quote Originally Posted by Buster View Post
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    The benefit of masks is not known at this time. But we do know it is some non-trivial amount more than zero.

    We also know that the cost of mask use is, essentially, zero.

    So the cost:benefit of mask use is approaching infinity. I'll take that every time. And every time I see someone without a mask, I think they are stupid.

  8. #208
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    Quote Originally Posted by Xtrema View Post
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    Heard it could be 30mths of compensation. May get some at the edge of retirement to go.
    That's got to be a pretty unique circumstance.
    Let's all work on positivity this week.

  9. #209
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    Man, so jelly of those who are about to retire (basically 12 months or less) and then get a 30 month payout instead. What a fucking win in that scenario.

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    Quote Originally Posted by Disoblige View Post
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    Man, so jelly of those who are about to retire (basically 12 months or less) and then get a 30 month payout instead. What a fucking win in that scenario.
    I could be 48 months from retirement and I'd still take a 30 month payout. Every time. Actually, that's very close to the numbers for my oldest brother.
    Let's all work on positivity this week.

  11. #211
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    30 months comp up front.... thatís be about enough cash be so fucking gone from this country without the slightest consideration.
    Originally posted by Thales of Miletus

    If you think I have been trying to present myself as intellectually superior, then you truly are a dimwit.
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    fact.

  12. #212
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    Quote Originally Posted by Disoblige View Post
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    Man, so jelly of those who are about to retire (basically 12 months or less) and then get a 30 month payout instead. What a fucking win in that scenario.
    I worked with a couple guys that got something like that but only 24 months (as that is the max at our company), but then add on:
    - bridged to full Undiscounted DB pension
    - after a year or so, came back as contractors doing similar work

    So friggin jealous of those situations. They were really smart guys so definitely earned it, but it’s just amazing how they made out like bandits as just basic employees. Meanwhile here I am just wondering if I can even make it another 5 years here let alone all the way to retirement

  13. #213
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    Quote Originally Posted by ExtraSlow View Post
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    That's got to be a pretty unique circumstance.
    Well that's for management level, works out to ~2 months per year of service but I'm sure there is something else to take it up to 30 months. Friend is 90% sure putting her hand up but worried that she'll get denied and get awkward.

  14. #214
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    Quote Originally Posted by Xtrema View Post
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    Well that's for management level, works out to ~2 months per year of service but I'm sure there is something else to take it up to 30 months. Friend is 90% sure putting her hand up but worried that she'll get denied and get awkward.
    Your friend is wrong, maybe it works out that way when they consider the unvested stock compensation, but nowhere near 2 months per year of service of base pay.
    2020 Lexus IS300
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  15. #215
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    Quote Originally Posted by mrsingh View Post
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    Your friend is wrong, maybe it works out that way when they consider the unvested stock compensation, but nowhere near 2 months per year of service of base pay.
    Probably. She just gave me a TLDR figure. The 30 months is definitely total comp. Not sure what the make up is or I may have tuned out.

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