Termination date Jun 2020
Company office is closing and I got layoff notice today. My termination date is Jun 2020. If I stay till termination date, I will get severance of around 100k. I am on H1b and I am not sure, if I should stay till the end date and join another company after that or look for new job now and join. Anyone have tried this?
Start interviewing. Many companies have offers valid for 1 year. So, have couple of options in case things go south. Eventually join one of them.
Really 1 year. If they can really wait that much long time. This would make my day today.
Yeah there are many which do it. So you donāt have to wait to start interviewing.
Tell them that you will be consulting legal counsel and then you can get probably an extra 20% (20k) for signing an additional release of claims form
Thanks, but I am happy that company have given enough time and good severance to prepare for next job. Dont want to jeopardize it.
This is awesome. You can chill until next June have enough time to find something else and get a 100k exit package. Congrats!
Severance of one of the good thing out of this layoff today.
I'd love to get laid off at all my jobs and everytime getting a severance and a higher TC.
Unless you are a genius with great SW development skills or have great interviewing skills I would start searching for a job now ,if you want new job of your choice . This is just because you are on H1. I am not in IT and I personally feel 3-5 months a very short period to find a job that is willing to sponsor H1
Which company is this ?
What are conditions of severance? Usually when itās called severance there is a condition that you should be unemployed to get it. Nobody usually check it, but anyway look at that clause.
Well, there are no such conditions and its lump sum amount at the end of termination. But I will check one more time by going through entire agreement. Thanks.
If thatās a lump sum, thatās cool.
Id say look now and negotiate start
Thanks. Based on responses above, I think this would be best way to go and possible.
If on H1B, jump asap. It takes time to get an interview through and get an offer. 100k$ is cool but ensuring you make that over the years is more important. I wouldnāt risk it.
100k may not be worth risking your H1B. You have ample time. Take 3 months to gear up. Hiring slows down from November to January. Keep that in mind as well. Iād say get an offer and move on. Your career is important rather than staying here for another year knowing you have no future
Yeah its a risk. Will definately start looking out and see what I am getting outside. Thanks.
Do you have that severance written and signed already? Don't trust that unless you know it's true. If the company os closing, how are they going to afford that severance? Be cautious about this.
Yes. Written and signed. Company has many location. Location where I work is closing.
It's plenty of time in advance to get something else going on. Get an offer that is worth forfeiting the severance or negotiate the start after like someone said below..