I found a new job and put in my two weeks early this month. My last day was the 13th, and I believe I got paid that day as well since the 15th was a sunday. Was that my final check or do will the 30th paycheck be final?
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I feel compelled to reply to WZZ
"Bottom line: it is not personal. "
Of course its f—ing personal. They're taking away your livelihood for their mistakes. Second, if you sign the docs, which I understand if you need the $, you give up any right to sue, apart from through the EEOC. So think carefully.
@wzz can you say more about the 401(k)? Won't that put you over the annual contributions limit? IIRC the limit is $19500 for 2020, or $26000 if you are old enough to make catch-up contributions
@wzz Thank you for sharing your experience without bitterness - I'm sure it will help a lot of us.
Sorry to hear that! I am in c&c too. Concerning.. Which BU in c&c? And did you get noticed by HR or your first line manage? Idea on how big this round of RA is?
Sorry to hear. I was swept in the June RIF and here are a few items I learned along the way:
- you need to sign the form before they can pay you that 3 months severance. You can do it on your last day but make sure you get it done (read the fine print on your termination packages)
- signing up for the health benefits (cobra) is not complicated BUT you need to do it within 1 month after you leave the company. Just call netbenefits. Just do NOT forget
- if you can afford it, change your payroll IMMEDIATELY to have the maximum deducted for your 401k. It’s too late for end of nov paycheck but should catch the mid dec one. I moved mine to 80% I believe. Best tax break... remember that the severance will likely be paid in December so your taxes might be impacted and IBM will NOT withhold any Pre-tax contributions like 401k in your severance
- go through your email and make sure EVERY mail list you’re on is now forwarded to your personal email especially sites that require verification emails sent to your current email
- you’ll likely be required to return your laptop. Needless to say, do what you must to get personal documents and data. Remember the USB ports are disabled but internet is not so create a personal BOX folder (not the IBM one) and dump away
- sort out with HR your contact details especially your personal email. The offshore guys are clueless and will send emails to your IBM email which bounce after you leave.
- join Right management (you’re given 6 months worth of access) but may want to wait to activate until after Jan 1 as the clock starts ticking. At the very least have them help you revise your resume
- File for unemployment as soon as you leave. Even a week or two are better than nothing
Bottom line: it is not personal. There is no shame in this happening. It is what it is. Your next job is finding a job. You should be spending 40+ hours a week networking, interviewing, and working towards landing that next job.
PS. If you’re in the middle of securing a loan (auto, residential, etc), try to get it done before you leave. Some financial institutions will have issues with you being unemployed.
I wish you luck landing a new position.