I was an R&D Engineer I with Medtronic for a year, with 7 months of prior co-op experience on the same team. In May of 2026, the project I was on was significantly gashed, resulting in functional leaders having less project work to give out than engineering resources available. Sadly, I was quite an easy target for the project to drop and my manager to no longer need. I'm posting the severance package here because I relied heavily on this site as rumors were swirling before the layoff.
My severance package:
- 2 months of "garden leave" where I still received full pay and was "technically" still an employee
- 4 weeks of true severance pay, given in a lump sum payment once I signed the separation agreement (no non-compete was given)
- Unprotected PTO payout (keep in mind that the protected PTO does NOT get paid out, so if you think you'll be laid off, be sure to use all of your protected PTO)
- MIP was still given (yearly bonus and additional 401k contributions)
- Unvested company contributions to my 401k will be rescinded, so after the MIP payout they will be taking $7k back from my 401k.
- They offered job placement help both within Medtronic and externally
All said and done, I couldn't have asked for a much better package (except the unvested 401k contributions being taken back). However, it still su-ks to get laid off.
Be prepared for a meeting to be put on your calendar after working hours. It will be your manager and an HR rep. The HR rep will be thoroughly unhelpful in answering questions.