As more and more people talk about future layoffs, I just hope that there will be no changes in the severance plan that would go to our detriment. Does anyone have any information about this?
I have long been pessimistic about everything about this company. I'm looking for a new job more actively than ever, I don't think it's worth waiting for severance here anymore.
the severance you get is based on the precedent the company has already established... 5 weeks per year of service maxing out at 104 weeks. That doesn't mean the company can't get creative in other ways. I laid off staff in the big 2014 CVE layoffs and they all got lifetime benefits if they choose to 'retire' with their package... that was then reduced in 2016 to 8 years paid-benefits after layoff. Now... in 2021, you don't get any paid benefits at all but you can buy them at a reduced rate. Stuff like that....
Everyone will have to accept what they receive as a package.. I know they suck now but it is better than non thing
For all of you sitting around waiting for a package. Think about it.
You will need to get a new job eventually and a hiring manager will offer you less if you are unemployed. It’s better to find a high paying job and have the option to take it or leave it. They will have to work hard to get you over. You are much better off financially by actively searching and getting a secure role somewhere vs waiting for a package for 6 months of temporary salary on average. You will also be happier in the long run !
2 weeks per year is the new normal !! I should have got out in Jan Mar
Sounds more like some camels trying to fit through the eye of a severance needle.
The higher your title the more you get.
2 weeks per year!!