What are the severance packages looking like now? I don’t see the policy. I couldn’t find the updated version of the last one that was up with the formula. Any help would be appreciated. Planning around potential future layoffs
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@ex many companies pay out over time versus one lump sum. The lump sum takes more taxes out and if you have a hard time budgeting it allows you to stay on schedule as if you were working. Don't forget you can also collect unemployment which gives you some money coming in until you find that new job.
Sorry, the FIS icon is on the top Left.
From TEAMS, click on the FIS icon at the top right , then click on the Benefits icon, once that comes up, then on the right hand side of the page, click on North America Page link, you will see a lot of buttons come up, there is one labeled Severance, open it and read it or download it. It shows an effective date of 02/01/25, Amendments Effective 01/21/26 and Last Amended 04/02/26. Still looks like 2 weeks for every year max 52 weeks. But I haven't read all the fine print. yeah I tried to do a search on SEVERANCE and nothing came up.
@ed you are correct but who give severance package as weekly payment instead of a whole sum amount at once..this is ridiculous 🙄 never seen such a pathetic way of dealing with these sensitive things
It’s definitely on FIS & me. I was looking at it a few days ago. Just search “severance policy” or ask copilot to find it.
I found it easy, updated a month ago. Funny how they worded it that you won't receive severance if you're contracted off.
I’m very surprised to hear people aren’t able to find it. The document I have saved locally was from 2025.
2 x weekly base pay x years of completed service
Are you guys saying that they took the entirety of severance documentation off or you’re just having trouble finding it? I’ll look around later.
Interesting point of the severance policy being taken off line. Never a good sign. It would appear that lump sums are no longer being offered. They are paying your salary on the usual interval. Someone recently laid off, said that they were offered health insurance through the end of the month of their last date of employment. That would make it hard for someone with a planned health care treatment or surgery. Cheap SOBs!
@ac shocked as in pleasantly surprised or deeply disappointed?
@OP create a hr ticket and ask for it...you will be shocked 😲