Has anyone seen the new severance package? Yes, they snuck it in under the employee radar because it has drastic cuts to severance. Management (I can no longer say leadership) Is downright bullying employees in hope that they will quit and therefore save on severance.
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OP isn’t being specific about what changed. All I’ve heard of changing was early 2021 and it was stated if you get a comparable job, you no longer get severance. But I believe there was no definition of comparable job.
Stop stirring sh-t without specifics. It’s a scare tactic and annoying.
It's the fault of the unvaccinated!
Two weeks severance for every year completed (including medical benefits) not to exceed 52 weeks of severance.
I know someone who was laid off last year after 25 years of service and that person received 50 weeks of severance so I don’t know what the heck you’re talking about.
I was RIF'd in 2018 when the package was much better:
Pay:( 3 mos for Manager, 6 mos for directors, 1 yr for VPs)
Career Transitioning Services: length dependent on level/band
COBRA coverage kicked in after severance period ended
Pro-rated bonus for 2018
Pay out of unused vacation time
Now they have some a*ho-e from HSBC, the worst bank in creation, who I'm sure tamped down on the benefits. Why they wud hire someone from a crapy bank like that is beyond me but she seems to have brought her shtty programs to TR.
ANyone working at a place because of its lush severance opportunities is doing it wrong.
Severance terms from 2018:
https://www.thelayoff.com/post/@OP+VAjSdhX
Use this to compare to what they are now.
If you're good at your job, you should be quitting before they lay you off. Take control of your future and apply for some jobs. Starting salaries are looking great a lot of places.
Uh oh, what are the changes? Isn't it still 2 weeks of FT pay per year of service?
Where is it posted? Or do you mean the one they updated last year?