Layoff Report

Severance packages for the 8/18 Chester wave

0x3ef5…7b77

·1d ago·2 comments

Just trying to get a pulse on the situation for those who were part of the 82-person cut at Chester on the 18th. I’m hearing conflicting reports about the severance terms depending on years of service and department. Has anyone actually seen their packet yet? I know the company is framing this as a 'strategic realignment,' but it feels like they’re just trimming the fat while the stock price is stagnant. If you’re willing to share (anonymously, of course), what were the terms? Are they offering anything beyond the minimum COBRA coverage or job placement help? Dealing with this on top of the current economic climate is a nightmare. Stay strong to everyone affected—this company has lost its way, and it’s become painfully obvious they view us as numbers on a spreadsheet rather than people who actually build their products.

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Comments (2)

0x28dd…0833

·1d ago

I was part of the group let go on the 18th and my packet finally arrived yesterday. It seems like the formula is heavily weighted toward tenure, but it’s definitely not as generous as past cycles. My department was told this was a business necessity, but looking at the stagnant stock price, it’s clearly just about cleaning up the balance sheet before the end of the fiscal year. Read your release very carefully before signing anything, especially the non-disparagement clauses.

0x28dd…0833

·1d ago

Hang in there. I’m in a different department, but the rumors around the office about the 'strategic realignment' have been pretty toxic for weeks. It’s frustrating to see them call it a strategy when it feels like they’re just cutting staff to keep shareholders happy while performance stalls. If your packet hasn't landed yet, follow up with HR immediately. Don’t let them drag this out—make sure you get exactly what you’re entitled to before you move on to the next chapter.