By the time you are told, the decision is weeks old
The meeting where you find out is not the meeting where it was decided.
The formal process that follows is largely the documentation of something that was
socially agreed some time earlier. That is simply how large organisations
work, and it has one consequence that matters enormously to you.
The window where your position can still move opens long
before anybody tells you it exists.
Then the offer arrives, and almost everyone fights the wrong thing.
At a large institution the severance number is close to a formula. It
runs on tenure, it is capped, and it is standardised precisely because the company is
big. It is the number everybody argues about and it is the number least likely to move.
What moved was everything around it. The length of garden leave. The support on the way
out. The reference.
The reference follows you for years. It is on the negotiable
list. Almost nobody asks.
I was Head of Technology HR at Credit Suisse. Then technology reward at
UBS, during the integration. Which meant the redundancy consultations, the calibration
meetings, the reward decisions when the budget was under pressure, and the
structure-matching exercise when two organisations became one.
I want to be precise about that, because the temptation is to overstate
it. I did not place people and I did not own those decisions. I advised, I was in the
room, and I watched it happen from the inside. That is a narrower claim than it sounds,
and it is the one that explains why I know which parts of this are theatre and which
parts are real.