Everyone that I know is still getting 2 weeks for every year. Not sure that will continue but it's awfully hard to change that when you've set a precedence for so long.
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That buys a lot of powder blue shoes it does
Not all severances are created equal. SVP’s bring in $700k a year (yes puke) and walk away with millions when they leave even when fired. Everyone else 2 week per year max 26, lump sum with huge tax hit and no health insurance after month end. Truly stay if it suits you, that’s great, but treat it as business from your side too, don’t buy the HR bs
"partial stock vesting" and "prorated bonus programs"
What's a "bonus"?
I'm kidding of course.
Clearly you are not one of the "worker bees".
(Buzzzzzz.....)
The new Fiserv has one of if not the best and most generous severance, benefits continuation, partial stock vesting, and prorated bonus programs of any company. This is far superior to what OFSV had under the miser JY prior to the merger. That’s a fact.
I believe there is a 26 week cap now. No additional severance will be granted after you hit 13 years. I think the cap was added a year or two ago.
@1cwk+15DdgbfJ Wow, you would expect a company to be loyal to people that are loyal to them. It is all about the c-level bonus's and shareholders. Seems like corporate greed at it's finest.
OFD here. Don't count on the severance. FD screwed me out of my severance by converting me to a contractor. I had six months of severance coming to me after 20 years. I found another job with a much better company.
FRank changed it from 2 weeks for every year to 1 week at First Data. Don’t count on it staying the same.
It’s telling and sad you know that many people being let go. That must be very difficult