Anyone gotten theirs yet,or signed? I was always under the impression that when you are being let go that this paperwork has to be completed within a 72 hour period and that all money was to be paid starting the following week, in weekly installments until paid, or if lump has to be in that 72 hour time frame
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I kept track when I was laid off a few years ago, took 89 days between signing/returning forms (which I did immediately) and the money showing up in my bank account. And that was with fewer layoffs and presumably much more staff...don't hold your breath and save your money is all I'm telling you.
I swear to god, if it’s not a job screwing you, here comes the IRS to do the same without lubricant. 40% is rape, this is why so many Americans struggle. Why tax people so heavily when they are out of a job in the first place? We need the money now more than ever and you wanna take half???
There isn't a 45 day waiting period after signing! Your severance got caught up in the COVID mess! Geez! You have 45 days to return your signed general release. When we riffed all those people in 2018, our state had a 14 day revocation period, then they were getting their severance about a week to 10 days later. Stop scaring these people !
Signed severance April 1st
Received severance check May 15
That’s the 45 days waiting period after signed.
Lump sum & taxed at almost 46%
If you were offered a package-don’t waste your $ on an attorney .
They’ve got a legal army -you won’t win trying to dispute any of it .
The waiting for it to arrive is the worst ( I too kept thinking will they change it )
Best of luck to all impacted .
We are all stronger then that toxic cesspool !
Lum sum and appro 40% of tax.
you might have to wait a loooong time, sorry 😞
Prepare as well, it is taxed heavily!
It seems to me that they knew who was, and wasn't coming back in mid June. So why the 15 day wait? My greatest fear is that they may change their mind and re-hire me. The worst of all possible options.
Nope, what you described is not how it works. After you receive it, you have 45 days to return it. Once it's returned, the company sits on it either 7 or 14 days depending on the state you are in, because there has to be a revocation period. After the revocation period, your severance will be paid, lump sum. Read your packet.
It will be emailed by the 15th, and you have 45 days to sign it.