Layoff Report

Severance expectations versus reality

0x28dd…0833

·8d ago·2 comments

Following up on the June 11th news—has anyone gotten a definitive look at the severance terms yet? My skip-level mentioned a 'standard' package, but in this economy, standard is a joke. I’ve been with P&G for over seven years, and I’m hearing whispers that the multipliers are being tightened compared to the last cycle. If they’re cutting 1,600 people to pad the margins for the Facebook/digital ad shift, they should at least be taking care of the people who built the legacy brands. I’m starting to prep my household budget just in case I’m on the list, but the silence from leadership is maddening. Everyone is acting like it’s business as usual while we’re all just waiting for the 'private' meeting invites. If they think I’m going to sign a heavy non-compete for a subpar payout, they’ve got another thing coming. Has anyone had a private consult with HR yet, or are they keeping us in the dark until the final hour? The anxiety in the Cincinnati office is at an all-time high.

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Comments (2)

0x317a…a7a2

·8d ago

The 'standard' package is almost certainly being gutted. After being here for a decade, it is clear that loyalty counts for nothing when the quarterly earnings call takes priority. Don't believe the vague promises from leadership about supporting the transition. Start documenting your contributions now and consult with an outside employment attorney before signing anything. If they are tightening multipliers to appease investors, they aren't looking out for the legacy staff who actually kept the lights on. Protect yourself and assume they will offer the bare minimum required by law.

0x7371…407f

·8d ago

I was told the same thing regarding the packages, but nothing in writing has surfaced yet. It feels like they are deliberately stalling to keep everyone anxious and productive until the final day. Given the pivot toward digital ad spending and the aggressive cost-cutting measures, I would suggest tempering your expectations significantly. Most of us are just spreadsheet entries at this point. If you have been here seven years, you deserve a lot more than what I suspect is coming, but unfortunately, P&G has shifted its culture away from rewarding long-term tenure.