Does anyone know what kind of severance they are offering Canadian employees when they get layed off, involuntarily?
4 replies (most recent on top)
The payment is notionally 3 weeks per year up to a maximum of 84 weeks plus any accrued vacation time. In addition it can increase up to 3.6 weeks per year based on age and years of service.
good to know that HW even screws their employees in the US after letting them go. Back when i first started the packaged was 2 weeks per year of service no cap. then it went to 1 week per service no cap, now 1 week per service 26 week cap.
thx HW
The severance for Honeywell employees in Canada is based on their employment contract, it is not necessarily 2 weeks per year of service. Typically there is a base amount regardless of years of service, which is determined by job category and age (the older, the more severance). Then there is additional severance based on years of service. Unlike in the US, the maximum number of weeks can be much greater than 26 weeks, although I'm not sure what the max is (over a year, possibly 1.5 years)
IRIF or VRIF, there is no difference. It's about two weeks per year of service. It's not an offer, it's what they provide, not negotiable.