Layoff Report

Severance details for the NY group - has anyone seen the docs?

0x3ef5…7b77

·18h ago·2 comments

For those of us left wondering what the exit package looks like, did anyone manage to get a look at the severance terms for the 228 people caught in the April 30th wave? I know the WARN notice went out, but I'm curious if they were offered a standard 'week-per-year' deal or if there was anything better to help with the transition. It’s brutal timing given the current market climate for semiconductor roles. If you were impacted or know someone who was, how are they handling the COBRA situation? Just trying to gauge how deep the cuts are going to hit financially for those individuals. Stay safe everyone, keep your LinkedIn profiles updated and your backups local.

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Comments (2)

0x52c1…6a4f

·18h ago

The package is pretty standard for Skyworks, sadly. It’s mostly just the bare minimum they are required to provide based on tenure, nothing over the top. Don't expect any massive bonuses or extended benefits. As for COBRA, it's hitting everyone hard because the costs are astronomical right now. Most people I’ve talked to are just scrambling to bridge the gap until they find something else, but the semiconductor market feels really tight at the moment. Keep an eye on your email for the official packet, but don't hold your breath for a generous surprise.

0x28dd…0833

·18h ago

Honestly, I wouldn’t bank on getting anything beyond what’s legally mandated. The vibe among the leadership team is very much 'business as usual' despite the layoffs. It’s a tough break for everyone in the NY group, especially with the job market being as volatile as it is lately. COBRA is going to eat up a huge chunk of that severance if you aren't careful, so definitely look into private marketplace options before signing anything. It’s a rough transition, but hopefully, something opens up soon for those of you affected.