Thread regarding Bank of New York Mellon Corp. layoffs

Recent layoffs - Severance

Any ex-employees here who were laid off this past Monday and have been denied severance?
If so, for what reasons and how was it communicated? That seems really low!

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Post ID: @OP+18UwZ4Wd

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Spoke to an agent at the Total Management Solutions Inc and was told when applying for unemployment benefit if asked if it was a severance package to say NO. As was stated before me it's a supplemental unemployment benefit and not a severance package. You can collect unemployment after your official separation date which mines is 1-22-21. I will apply for benefits on 1-25-21. Good luck to all and hope you find employment with company that cares about it's employees.
If you need assistance or have questions please contact TMS at (800) 464-7755.

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Post ID: @7tol+18UwZ4Wd

Anyone know if staff been made redundant uk are getting redundancy pay? If so how many weeks per year? Also does last PMP rating effect this?

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Post ID: @5ked+18UwZ4Wd

Also important to know that if you get a new job while receiving subpay, the sub pay STOPS.

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Post ID: @4tdf+18UwZ4Wd

Post ID: @1jdd+18UwZ4Wd I too have heard different things about sub pay and unemployment. I know folks who had trouble getting unemployment after Sub ran out and folks who had them together. Won’t know until we do and then cannot say...

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Post ID: @3kkv+18UwZ4Wd

It’s sub pay and you can start collecting unemployment as soon as it starts.
If you are using the term severance interchangeably with sub pay I believe a few people got screwed and where let go due to a BE rating.
The managers were told it would not impact the package, then did a last minute switch.
Very nice.

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Post ID: @1wqz+18UwZ4Wd

It was corporate wide...almost all locations/departments affected

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Post ID: @1ixb+18UwZ4Wd

I hear different things about sub pay and unemployment, some say you can get both at the same time, and some say unemployment starts after sub pay? Does that vary by state?

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Post ID: @1jdd+18UwZ4Wd

They pay Supplemental Unemployment Benefits (aka SUB Pay) instead of quote 'severance'.

If they called it 'severance', it impacts your eligibility for Unemployment benefits.

SUB pay continues for however long you are eligible, up to a year for old-timers, and you get a paycheck for that amount of time, while maintaining your health-insurance. Most other benefits stop including deductions, so for up to a year, you might actually make MORE take-home money.

Don't tell the unemployment office it's 'severance' or they will deny your claim.

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Post ID: @1xrd+18UwZ4Wd

Can anyone please provide the specific department and location (I.e. Downtown Pittsburgh) where the layoffs occurred?

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Post ID: @1jnj+18UwZ4Wd

It’s not severance, it’s SUB ( Supplemental Unemployment Benefit)...I’m not totally sure what the difference is, but do know you can collect Unemployment at the same time whereas with Severence you cannot.

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Post ID: @1axx+18UwZ4Wd

All 14 of my colleagues got full severance. 2 were BE.

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Post ID: @1iwk+18UwZ4Wd

Unless you had two consecutive BE’s they have to give severance pay; but I have heard occasions where the individual was told performance dropped below BE since last review but have not heard any. Of the six I knew who let go all got severance pay

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Post ID: @1vxm+18UwZ4Wd

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