The company I work for has gone through two downsizing in the last 1.5 years. First one was done in Dec 08 and other one in Dec 09. Each person who got fired got 3 months of salary, leave encashment, 15 days for every year worked etc. On an overall basis, an individual got 6 months - 1 year salary for getting fired... some even got their stock options encashed..
is this a bad deal... i dont think so at all..
i believe it is a fantastic deal. one individual in my team who got fired got 9 months of salary and found a job within a week with 30% hike...
looking otherway, he got 9 month salary equivalent bonus (i get lesser than 3 month) with a pay hike of 30%. I am ignoring the mental trauma that one goes through getting fired..
I had volunteered to be part of the list in Dec 09, but the company refused to accept.. they believed that I add value and should remain... so i have to live with a compensation that is lower than what i would have got, if i got fired...
Every time i hear that there could be new restructuring list, my eyes open up and i wish i get fired with the same deal...
may be i have to wait for long before this happens...
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