11.3% are being severed - 238 of 2101. All employees severed today were given a print out by title and age of employees retained vs. employees severed, as a means to divulge that there was no discrimination by age taking place. Lay offs by title are as follows: 2 Admin Asst, 2 Exec Admin Asst, 42 Advisors, 3 Analysts, 3 Asst General Counsel, 1 Coordinator, 1 Deputy Compliance Officer, 13 Directors, 7 Engineers, 1 Food Service Worker, 4 Geoscientists, 3 Global Technical Advisors, 23 Managers, 1 Mechanic, 1 Operator, 1 Sr. VP, 37 Specialists, 32 Sr. Advisors, 5 Sr. Analysts, 1 Sr. Assistant, 3 Sr. Associates, 1 Sr. Counselor, 9 Sr. Engineers, 4 Sr. Geoscientists, 1 Sr. Land Negotiator, 7 Sr. Managers, 1 Sr. Naval Architect, 2 Sr. Specialists, 4 Sr. Technicians, 4 Superintendents, 6 Supervisors, 3 Team Leads, 7 Technicians, and 3 VPs. I was one of the 37 Specialists severed today, I was topped out salary-wise at Grade 3. By looking at the ages let go, the vast majority were mid 40's - 60's. Specialist and Advisor titles were hit hardest.
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My understanding is that only pro-rata vesting of restricted stock if you are under 65. Over 65, it all vests when you leave.
Will restricted stock vest with layoff?