Wait for potential layoff or leave for new job?

New
sudomeme

New

PRE
Walmart
sudomememore
Jul 9 9 Comments

My company was acquired recently and there’s concerns that most of my department(digital innovation) will be laid off before the deal is finalized for cost restructuring purposes. HR and my boss have assured my team that there will be no layoffs anytime soon, yet have told each team in my org about the (very) generous severance package in the event of a layoff. At my level, severance package would be 1.5x base, stock, and performance bonus(!!).

I’m currently looking for a new role at FAANG/UAL but am wondering if I should stick it out and wait to be laid off instead. The thing is, I can’t tell when the layoffs will take place, so I don’t know when to start ramping up again on job search. I also don’t know if I’ll be one of the folks who is let go, since I have a lot of domain knowledge of my product group, their system design, and complex regulatory constraints on our tech that would be very difficult/costly to replace.

Should I stop searching in the expectation that I will be laid off, or continue searching, land an offer I want, but potentially walk away from $300K+ in severance?

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TOP 9 Comments
  • Tesla InmR60
    Interview and make the start date a few months from now so you can still get fired and take severance while getting a break
    Jul 9 2
    • Adobe DaLobstah
      👆🏻This. Never leave money on the table. Get that severance and ride into the FAANG job. If you’re in the States, that severance will be taxed at like 48%, so be prepared for that.
      Jul 9
    • Thales xxXW73
      The supplemental tax washes out when you file
      Jul 9
  • Salesforce mnmctjjccu
    They might offer you a package to leave, would recommend that
    Jul 9 2
    • New
      sudomeme

      New

      PRE
      Walmart
      sudomememore
      OP
      Would this be different from severance? Like similar to a ‘quit with this $XXK package or get PIP’d’
      Jul 9
    • New / Finance msWc85
      They won’t PIP you. They might just say they’re downsizing and offer you a good amount to voluntary leave.

      Please stay and take the 300k in severance. Hell even 30k would be nice.
      Jul 30
  • Microsoft TqoN12
    How about this. Start prepping, but don’t pull the trigger till you’ve been laid off. If you’re gonna get a 300k package, you’ll have plenty of time to do interviews and find a new job. Wait until it’s a for sure thing, in the mean time just leetcode, prep yourself and take some time off.
    Jul 19 0
  • New
    sudomeme

    New

    PRE
    Walmart
    sudomememore
    OP
    Thanks all! So it seems like the consensus is to keep looking, but give a start date in 3 months or so. By Q4 layoffs should be announced or have already begun. I got a no offer, recycle from AMZ, and my recruiter is shopping around other teams to see if I can re-interview throughout next 6 months.

    How will I know when the writing is on the wall to mentally prepare myself?
    Jul 10 0
  • Amazon epcK02
    Get your resume together and LinkedIn updates. Start conversations with people in FAANG teams. Reach out and let them know you’re looking but not ready to pull the trigger, and you’d like to learn more about the org. Build the relationships so you’re ready to go.
    Jul 10 0