I know there are other posts about the possible upcoming June/September rifs. I would bet I'm gonna be one of the ones based on what I've seen/heard about others my age, etc. I'm hearing conflicting info about how one gets informed and the package. I'd be interested in the health benefits. Do they continue or end w/ the rif and you have to go cobra? Also, are there any advantages/disadvantages about lump sum vs continuing biweekly? I appreciate everyone's insight and info.
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Not sure about today, but IT was hit yesterday. 4 people I know from the BH office.
Any word on when Claims is going to get hit again?
IT is all I am aware of at this time.
What lines of business?
500+ already gone this week globally.
To Post ID: @7aso+15gr3eJD were they moved because of the outage?
I work in finance, our RIFS were moved to the week of the 22nd.
Other than RIF's in IT, I haven't heard of anymore. This site had indicated there were going to be a lot of RIF's this week. Maybe because of the outage yesterday, they are going to be towards the end of the week?
After next week I guess consultants will do all the work, right? Execs still think they will get delivery in IT. Some folks in IT who know are getting rifled are leaving goodbye presents. So you might see system issues in the next few weeks.
They give you 30 days to decide if you want lump sum or continue to receive a biweekly paycheck till severance runs out
It’s on a pay period in US, and they give you 2 weeks notice before severance kicks in, usually your “official last day” is that Friday, but sometimes managers just say the day you are notified can be your last
To the previous post RE stop with the assumption RIFs occur on pay week. Disagree. Good assumption for US workers that RIFs occur on pay week. Yes May have some annomiles and should always be ready as this company is awful but it’s a big company and has an approach that is systematic that includes RIFing on pay week and as said earlier TTH. If your manager wants to meet with you at a prescribed time then Heads up pencils down - it is what it is and my guess the other post are dead on right.. good luck
When riffed it depends on situation as to the day and if its pay week. Please stop with the assumptions because they Rif all the time and on any given day, not just pay weeks. HR will meet with you and then you get email confirmations and attachments that summarize your package. Packages vary based on level, organization, performance, etc... bonuses can be included but pro rated. The job placement service is awesome and i would use it. Helps a lot with social media, resumes etc... which reminds me be sure to tidy up social media because nobody likes to hire the person with crazy posts, half naked pictures and anger mgmt issues. The market is very strange right now. No lie. Try to stay postitive. Keep your head above water. Good luck to everyone.
Unfortunately the lump sum option postpones when you can begin collecting unemployment benefits; so does the continuous paycheck option
Does anyone know the actual process of what happens? I would imagine there's a meeting w/ your mgr and perhaps H.R.? Does anyone know what happens during the meeting? Do you have to make on the spot decisions about lump sum, distribution, health care, etc? Do they give you time? Are you expected to finish the work week or they release immediately? Sorry for all the questions but would help to know.
I haven't seen anything, but the prior post makes a lot of sense given the way this usually goes down at aig. plus the aig200 propaganda is ramping up. consultants are running wild. its weird that consultants always recommend reducing redundancy in the working folks, but never question why we are so heavy with execs. funny how that works isn't it (sarcasm).
Its coming. I just saw it in black and white. The old line of "Tough decisions will need to be made" in relation to AIG 200. Sick of it all.
Yes they lay off on a pay week, usually tues-Thursday
I heard Aig do lay off on payday weekend ... Any insight
see What your state does for unemployment. Accepting severance as a pay out rather than lump sum gives you continuation of your medical benefits and when that ends you can go COBRA if you don’t already have another job. But check with your state.
I got rifd at 63. Had to go on COBRA. The healthcare ends with the Riff. I was eligible for retiree medical which cost much more then cobra. I turned it down. But if you turn it down you can never go back in. At least it doesn't end in 18 months. Don't quote me but I think if you take the lump sum you can file immediately for unemployment which is good right now because you woukd also probably get the extra 600 a week