End Of Days Compensation Packages?

Waiting for the Axe to Fall asks: "I work for a larger webhosting company that has plans to consolidate one of its west coast data centers with an east coast location which they already have in place. Forget that this is a bad idea in terms of geographical redundancy--it is going to happen. The company did inform all west coast employees about the move, roughly a year in advance. This was done Im sure to ease the shock and fear of loosing ones job. This affects a small group (8-9) of employees, all of whom are tied up in operations and the data center specifically. If you were in this situation (as one of the employees), what would you require/want/wish for in this retention plan? The benefits of staying with the company, until the end, must out weight the risk of being jobless; or is this not the path you would choose? Would you leave as soon as the announcement was made?" "As employees, the group decided to go to management and request a 'retention plan' of sorts. This is a contract that outlines specific benefits to stay with the company through the move, and help getting the systems across the country without service interruption. The support of these few is a requirement, due to the vast array of legacy and non standard systems. The job could otherwise be done with consultants, however going this route would take substantially longer, and would be at a much greater cost to the company. So, it is truly in their best interests to have the staff that has managed these systems for the past 5-8 years stick it out."

Comments

How About

[Doug Dante]

Standard Severance - 4 weeks + 1 week/year of service, sometimes capped at 5 years of service. (This varies. Well placed executives may get years of severance, and store clerks may get none)

A "Stay to the Bitter End" Bonus - Approximately an additional 4 weeks of salary or $10,000 for those who stay until the very last day they are needed.

Immediate release from all restrictions in your employee agreement with regards to working for competitors.

Verification that the conditions of your termination will allow you to collect unemployement.

Find a new job now. Tell the hiring managers that your bonuses will keep you at your current position until the closing date. Don't fret about taking an hour here or there to interview; it's expected. Besides, they're already going to let you go soon. They need you and they're not going to fire you. It's time for you to start thinking about greener pastures.

Later, if they hire you back (and it may happen), offer to do so for a 25% raise, but settle for no less than 10%. If you don't have a new job, don't let them know about it. Your new "consulting" position prevents you from speaking about it.