Does anybody know what the severance package has been during these layoffs?
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They also provide 6 mths of insurance at noble employee premiums and then it goes to regular COBRA pricing. Also vest any restricted stock that would have vested within next 12 mths.
You can find it on internal website. It was revised in 2016 to degrade benefits. 12 weeks prorated bonus at your stip, prorated pto unless you’vre long timer. Then it’s 2 weeks per year max 1 year salary payout. Not many of us long timers left after 2015.
Two weeks per year up to one year total with a minimum of 12 weeks. Prorated bonus at a 1 factor.
I heard 2 weeks per year
is 12 weeks the limit?
12 weeks and some kind of bogus pro-rated bonus amount. And because Noble’s financial performance is so poor the bonus amount will negligible.
better than nothing.