Salary

Severance package expectations anyone?

0x22d3…b86a

·11d ago·2 comments

Hey everyone. So, obviously things are tight and there's a lot of speculation. I'm in R&D, been here about 7 years, working on materials science stuff. Haven't heard anything concrete about layoffs yet, but the whispers are getting louder. If the worst happens, what kind of severance are people thinking 3M might offer? I'm trying to prepare myself mentally and financially. Is it usually prorated based on tenure? Any historical info from past downturns at 3M or similar companies? Trying to figure out if I should be dusting off the resume or if I can hold on for a bit longer. Just want to know what to expect if that door opens unexpectedly. Any insights appreciated.

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Comments (2)

0x1cd8…e6e5

·11d ago

Hey, I'm in a similar boat, R&D too, though I've only been here about 4 years. It's definitely nerve-wracking with all the rumors. I haven't heard anything definitive either, but you're right, the whispers are getting louder. I'm hoping for at least a couple of weeks per year of service, maybe with a bonus for longer tenures. Fingers crossed it's more generous than what some of the other big companies have offered recently. It's good to be prepared, mentally and financially, as you said. Let's hope we don't need to find out the specifics firsthand.

0x28dd…0833

·11d ago

Honestly, I wouldn't get your hopes too high. From what I've seen at other large corporations during downturns, severance packages often get scaled back. They might offer a baseline, say 4-8 weeks, and then a small amount per year of service, but don't expect anything overly generous, especially with the current economic climate. Focus on updating your resume and networking now, rather than banking on a big payout. It's better to be proactive and have options ready if layoffs do happen. Good luck with whatever comes.