Accelerated vesting when laid off?
Just checking in to see how common it is that companies accelerate your vesting when you are laid off? Is this widespread? I'm sure there is a time component (like probably not 2 months after the last vest, but probably for sure 2 months before the next one).
Why would they want you to vest? They're laying you off to save money
This definitely happens, I just wonder how common it is. I guess the answer is not very common. For companies on an annual vest schedule they would do this to not be dickish and lay people off right before they vest.
VP level
It happened for BR. But guess it's very uncommon thing. Usually they give a 3 month pay when laying off. Might as well consider ur RSU's if it's vesting within those 3 months. Not sure, but that could be a possibility!
Maybe if you are an executive
Accelerated vesting generally happens when a company is acquired or merge with another. In layoff the employees lose their RSUs but get some kind of severance.
Thanks!
They have to make you 100% vested in your retirement accounts (401k and pension) if they lay off more than 20% of the work force. This is the law under ERISA, it’s called a partial plan termination. They can’t change the vesting on a per person basis for these types of plans outside of this scenario. They can change it for plans that are considered non-qualified.
Makes sense
This is what I do for a living. You may get an extra year when you leave a company because you have already hit your 1000 hours worked and their document does require a consecutive 12 months, this is common.
Never heard of that, but if a company was offering buyouts I could see this being part of the package.
Typically accelerates to zero
Op I heard there will be lay off in our company this month. Any thoughts?
Yes there will be. But I don't think it will be terribly widespread. Depends on the org of course.
Are you sure? This is first time AFAIK we are having 2nd in a year
OP, move this to PayPal channel on blind for more insights from insiders
Wtf? Why? We’re all anonymous and besides we’re family.
Yeah we are gonna be meeting over thanksgiving dinner this year! 😂
I’ve never even heard about this type of thing.