Good luck everyone. The EOI is certainly not a match for the US payroll employees. Might as well roll the dice and see what the selection event brings. HR must live in a different universe with the inability to do a cost benefit analysis. Why would anyone in their right mind take a 4-8 week EOI when they could ride it out to Q3 and let the chips fall where they may? Canadian severance laws are garbage.
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No way, snitches get stitches and I ain't no rat.
If you are aware of kickbacks to RK, you need to report that. At least DP is gone - nothing like protectionist, non-one team behaviours.
Will the FE contractors mafia disappear now?
Or will the kick backs to R K will save them again?
The CBU EOI offered is more than the legislated minimum that is shown on the EOI FAQ’s. Employees interested in knowing the amount they would be paid out are asked to contact thier HRBP to get details. I know of two individuals who have done this and both were very happy with what was being offered. I didn’t ask for details, but it seems to be ranging from 4 to 6 weeks pay per year of service.
True. It is only severe if you lose your job.
Nobody knows with certainty how deep the cuts will be. But one thing is always certain, if you become the only one to be laid off, it’s severe. Now isn’t that true?
Any thoughts on how severe the cuts will be? Think CBU will still keep contractors over employees similar to the 2016 cuts?
To clarify the OPs post, did the CBU offer EOI terms that were significantly worse than was offered previously in the BU, or is it just significantly less than US EOI terms? The BU I am in hasn’t announced EOI (yet) but expect it will be much lower than previously offered. Wanted to see if that has materialised in other BUs.
edo - go get an education with your severance deal. Consider learning English grammar.
@edo+14LhfA9j A severance, just like any other lumpsum is tax by IRS as miscellaneous income @22%, plus FICA 7.65%. Then if there is any state income tax. So minimum you are looking at 29.65% tax for no income tax states like Texas. For places like caliornia, it can be around 40% total.
Wait until you get the tax bill for taking the severance package.
US Payroll severance is 2 weeks pay per year of service with a maximum of 1 year. People that take it generally are those already considering retirement.