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Hey ZS, were you one of the few in the NY office that left recently? Honestly, as long as you don't put it on your LinkedIn or tell anyone at ZS (friends, coworkers, etc) I doubt that they will know. They don't track expenses carefully - I doubt they'll track this super carefully.
I know this situation sucks but what they are doing for you is really helpful. Pwc gave me one week's notice and severance for 15 days so I have to say I am not working when I interview. Maybe let them know when you get on the payroll of the new firm, not when you find a job?
Let's all slow clap for BA1
You forgot to tell them. Honest mistake :)
Why do firms pull this crap? They laid you off, they should want what's best and that would be you getting a job-no strings attached, I would not bother telling them unless you are in a field where everyone knows everyone. Also you might see an attorney, how enforceable is that agreement?
I think just cross that bridge when you get the offer. Say you get the offer today. You take a week to consider, accept around 7/30. Let that paycheck roll in. Then tell ZS.
@ZS1: I know that the entire East region (perhaps with the exception of Toronto) has been doing really poorly, based on conversations with our staffer. Almost all of our big pharma clients have a bunch of products going generic in 2017 and they have slashed the consulting budgets. A lot of Managers, APs, and Principals were expecting tons of projects in the pipeline, but the pipeline has completely dried up. Also, not sure how long you've been at ZS, but think about how aggressive hiring has been within the last 2 years. It was crazy and ZS probably expected way more revenue growth than what reality has provided. Finally, most of us have worked closely with the Pune colleagues and they have told me that there is a hiring freeze in the Pune office. Unbelievable right? Pune has been growing so much faster and for them to have a hiring freeze is a big reflection on how the firm is performing overall.
@ZS1: Can't confirm or deny...hope you understand! I really don't want my identity to be revealed!
Totally understand. Was really trying to figure out if it's happening firm-wide or just a few people in NY
Severance and new job are not mutually exclusive. New job and unemployment would be. Enjoy the extra cash!
Better question is what's wrong with your ethics and morals, smfh
You came in at 82 or that's what you made this last year? If you came in at 82 a couple years ago, that's pretty high
@ZS1: I came in ~1.5 years ago at 82k, didn't get a raise in July of 2015 because I had not worked at the company long enough, and got laid off as raises were being given out this year. My starting salary was admittedly pretty high because I had already been promoted at my prior firm, which was larger and more prestigious (I know I sound like an ass but hey that's the truth!). I accepted a lower position at ZS because I really wanted to move industries. Again, I asked for a higher position at ZS because I felt like I had good project management skills but ZS wouldn't budge because of the lack of industry experience. In hindsight, moving to ZS probably wasn't the best choice salary-wise but I learned a lot and met some great people so I can't say that I regret it!
For more background: got laid off with 2 months of severance and the ability to tell prospective employers that I am still currently employed. Basically, I am still on payroll and get to keep my health insurance benefits for another 2 months. The only catch is that unlike some other companies that pay out the rest of your severance in a lump sum if you find another job, I am supposed to tell ZS if I get another job and if it's within the 2 month period, my severance just gets cut past that point. For example, if I get a new job in 1 month, I forfeit severance for the remaining month. I am thinking about not telling ZS if I get another job and just collect 2 paychecks at once. Has anyone else done this? How would ZS even prove that I am employed again?
@accenture1: I signed the agreement but did not consult a lawyer before signing. It said "we recommend you consult a lawyer" on the agreement but I was not willing to pay lawyer fees on top of getting laid off suddenly. So I know that's my fault. I really hope that my next job isn't in consulting so I shall see.
^ good luck! I hope you find something great!
@Manager1: I've thought about that but I am looking at a lot of smaller companies right now and they tend to ask people to start ASAP or are trying to fulfill a role within the next couple of weeks.
Ah..good luck then. The worst that could happen is, if they find out, they will ask you to pay back that severance for one month. Just make sure there is no additional payment in the contract.
I read a book recently called Ethics 101
The only ways I could think of for your old employer to find out are by running a daily check with the unemployment agency, employment verification background check (similar to the one they run for pre-employment), credit check, or maybe something with the IRS to see reported income. I highly highly doubt they would do it.