Salary

Severance package expectations for potential cuts?

0x3ef5…7b77

·17d ago·2 comments

Okay, this is probably premature, but the rumors are getting louder. I'm in a senior role on the product development side, been with Lam for almost a decade. If things do go south and there are layoffs, I'm trying to figure out what a realistic severance package would look like. Based on industry standards and what I've heard from friends at other semiconductor companies that went through cuts last year, what's a reasonable expectation? Thinking about base pay x months, bonus payout, stock vesting acceleration, and continued health benefits. Anyone have experience with this, either here or elsewhere, that they're willing to share? Trying to prepare myself mentally and financially.

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Comments (2)

0x1cd8…e6e5

·17d ago

Hey, I hear you. It's stressful when rumors start flying. While I don't have inside info on Lam specifically, in the semiconductor industry, a common range for severance is often 1-2 weeks of pay per year of service, plus continued health benefits for a few months. For a senior role with 10 years, you might hope for something in the 3-6 month base pay range, potentially with pro-rated bonus and some consideration for unvested stock. Keep an eye on any official comms and be prepared to negotiate if the time comes.

0x7371…407f

·17d ago

Honestly, I'd temper expectations. 'Industry standards' are a loose concept, and what one company offers can be vastly different from another, especially depending on their financial situation. Last year's cuts at some places might not set the precedent for Lam. Focus on your performance for now. If cuts happen, they'll likely have a set formula based on tenure and level, and it might not be as generous as you're hoping. Always good to have a backup plan, though.