Take Two informs employees about changes in severance plan

If you’re an employee of a company, it would be of great comfort to you to know that management is looking out for you, wouldn’t it? That seems to be the case behind an e-mail message that Take Two Interactive recently sent to its employees. The e-mail speaks of changes in the employees’ severance plan in event that the company is taken over. More corporate mumbo-jumbo follows after the jump.

All people need reassurance, even employees of companies such as Take Two Interactive. With all the news going around regarding Electronic Arts‘ plans to buy out Take Two, it seems that the latter company’s employees need reassurance more than ever.

The interesting thing is that Take Two Interactive management recently sent an interesting e-mail message to its employees regarding changes in their severance plan.

In a nutshell, Take Two Interactive informed its employees that the new Employee Severance Plan will provide for “minimum levels of compensation” in the event that someone else takes control of the company and fires the employees.

While Take Two pointed out that it wasn’t assuming that the Electronic Arts buy-out would actually occur, the company did mention that the purpose of the plan was to address “understandable concerns” that employees might have regarding the possibility of such an occurrence.

A relevant excerpt of the Take Two e-mail message follows:

Our “Change in Control Employee Severance Plan” provides for minimum levels of compensation for all employees in the event that an employee’s position is terminated as a result of a change in control of the Company. These types of plans are fairly common for publicly traded companies. In fact, both Electronic Arts and THQ have change in control severance plans. If you have any questions about our plan, please speak with your manager, local HR director or Courtney Kelley.

We hope that this benefit will alleviate some of the concerns you may have, and allow you to remain fully focused on your responsibilities. You are critical to the success of Take-Two. The most important contribution each of us can make during this period is doing our jobs with the same focus, skill and creativity we always have.