Thread regarding Transamerica layoffs

Question for those laid off

I know this is not the best time to ask, but since I might be on the chopping block soon as well I'll give it a try. Can you please share the details regarding severance package? Is it the usual or have there been some changes (reductions) due to the coronavirus pandemic? I'd really appreciate an answer. Thanks in advance!

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Post ID: @OP+17d9BqNk

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i got 5 weeks for just 3 full years of service; it was 1 week per year of service plus the baseline of 2 weeks for 1 or more year.

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Post ID: @khus+17d9BqNk

You probably have your answer already since they gave out the packets on Wednesday.

Severance is, of course, based on how long you've been there. Based on bands it's X weeks + 1 week for each year. So if you were there 5 years severance is 4 weeks (fixed) and 5 weeks (service) for a total of 9 weeks at the pre pay-cut level.

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Post ID: @3ptu+17d9BqNk

That should say 5 pay periods (10 weeks) of severance.

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Post ID: @1lcq+17d9BqNk

Typically, TRS provides 2 weeks of pay for every 2 years of service that you have. So if you worked there for 10 years, they would provide 5 weeks of pay or 2.5 months roughly. They may offer something more generous due to COVID.

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Post ID: @ieo+17d9BqNk

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