What's the severance for this go-around (layoffs never stop)...
I was let go in 2018...
17 replies (most recent on top)
As for the cobra you have something like 60 days to decide and it’s retroactive so you don’t have to sign up right away and can wait to see if you Needed medical in that time frame.
Actually is was 1 week per year of service max 26. With the minimums being the 4,8,16 based on role / less than year.
I think a lot of folks are posting outdated information based on layoffs of yore. When I was laid off in July, 2019, the severance packages at Macy's Tech were 26 weeks for managers and 13 weeks for everyone else (plus PTO payout, and we'll get prorated bonuses and 401k matches).
The developers who I'm in contact with now are reporting the 8 weeks figure, as noted below, for those who worked over a year. If that was your offer, that s—s and I feel for you!
@1mfb+13mhpq8t Which office did Drs get 26 weeks?
In SF, everyone under 1 year got 4 weeks, everyone over 1 year got 8 weeks, directors got 16 weeks, not sure what sr. directs or vps got.
The issue with medical is the age requirement... there were a lot of folks with 25-30 years that started as EDP staff in the early 90's (think Governors Lake/Sabre)... and those folks haven't hit 55 yet.
I am SO sorry for those in our Macy's family who are impacted with this latest round of reductions and closures.....my store closed a few years ago......I was over 55 and over 30 years of service so I was able to "retire" from M with opportunity for M retiree medical.....am I reading here that M is no longer offering retiree medical for those employees who might have qualified in the past? Please know there IS life after M, and the grieving /feeling of loss is very real......praying for all of you who are going through this........
Related to benefits and the comment at post @1mfb+13mhpq8t a couple observations from someone who left last fall... your mileage will vary.
1 - COBRA for health will eat the $2500 instantly. My COBRA for me + Spouse is just over $1300/mo and you pay for 2 months the first payment.
2 - Moving from company plan to COBRA plan resets your plan year dates. Specifically deductible/out-of-pocket restarts with the date COBRA starts.
The average years of service in the Lorain building is probably around 15 currently, maybe higher/ definitely higher in the past. Many were near the cap. Many over the cap. Our application was not work. It’s called dedication, loyalty, family. The CTO does not understand any of that.
Severance for a Director was 2 weeks for every year of service, in this case 24 weeks. No on going benefits as in the past, only a lump sum allegedly equal to the companies contribution to medical only, a lousy $2,500.
I heard severance was 13 Weeks for Managers / Senior Managers and 26 Weeks for Directors / Sr. Directors at MTech
55K in severance is not all that high for the data scientists who powered Macy's Technology, so stop with the vitriol. We're all in this together.
Damn your severance was $55k, that's more than my annual salary and I'm a manager in a CA location. No wonder we have to close stores and lay people off. Too many people with fancy titles and huge bloated salaries but they don't actually do any work. Time to teach these Macy's Executives who really controls the company. I say a mass walkout in every store and for a full weekend let that financial sting teach them a lesson. Watch all their Macys stock accounts plummet Monday morning and just sit back with a smile returning to work as usual.
I was part of this wave at MTech. Confirmed 1 week for each year of service capped at 26 weeks.
Like you I'm already out... what I'm hearing from folks in this cycle at M-tech is 1 wk/year of service max 26.
thanks , links help
Mine was a weeks pay for every year worked. My total was $55,854 but net was only $35,587.
See if any of the five below helps
Any info on severance?
7 months ago by Anonymous | 2740 views | 4 reactions (+2/-2) | 14 replies (last 6 months ago)
Post ID: @OP+105o7gte
Severance?
2 years ago by Anonymous | 1733 views | no reactions | 7 replies (last 2 years ago)
Post ID: @OP+R8GXRxa
Did you get your severance yet?
2 years ago by Where mah money? | 3177 views | no reactions | 25 replies (last 2 years ago)
Post ID: @OP+RvSgbJC
Who is entitled to severance?
10 months ago by Anonymous | 1228 views | 1 reaction (+1/-0) | 6 replies (last 10 months ago)
Post ID: @OP+Yh6irau
Severance packages?
11 days ago by Anonymous | 1098 views | 2 reactions (+1/-1) | 2 replies (last 2 weeks ago)
Post ID: @OP+13abNhTC
Saverence
2 months ago by Anonymous | 1369 views | no reactions | 9 replies (last a month ago)
Post ID: @OP+12xk4WxA