This 'rumor' circulates at least twice a year. Believe none of what 'someone supposedly heard'....especially on this board. BTW, there's been only one reduction of severance to my knowledge and that was back in 2007/2008 when ATT reduced the maximum paid severance from 12 months to 6 months depending on the number of years service. Three tomatoes thrown at this post!
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Rumors??? Seems to happen alot. All bargained employees are covered under bargaining agreement that sets out the severence they get in case of layoff. All non bargained are at the whim of upper managment. Since they tore it back to 6 mo. max, I would not see them removing it all together. No upwards appearance of any major reductions anytime soon. The goal set some 10 years ago is pretty close if not met already. There are still positions available.
If it's true that T is reducing severance I'm not surprised. A good severance package is an incentive for people who are ready and able to retire or change jobs to stay instead and wait to leave with a severance. So for a company that wants to reduce employee numbers, a lucrative severance is counter productive. T doesn't want to pay a hefty severance to the majority of employees when they leave.
This is right on the nail head perfect post agreed should be the norm not the Santone way
"Severance pay inspires or motivates personnel to leave the company earlier than they had originally planned. It provides a much needed cushion while in transition so your next job can be as good if not better than your last. It usually takes a good 4-6 months to find a job. It's a great compensation benefit to employees and should be law! "
Severance pay inspires or motivates personnel to leave the company earlier than they had originally planned. It provides a much needed cushion while in transition so your next job can be as good if not better than your last. It usually takes a good 4-6 months to find a job. It's a great compensation benefit to employees and should be law!
I watched everyone who left for 30 years get severance then of course those of us driven out by a desire to not lose our promised benefits from 1990 received nothing so be prepared to get nothing in the way of severance. They will drive you out the hard way.
I thought it was gone already.
It's called taking away benefits to get people to leave on their own or making things so toxic that nobody wants to stay.
The company pays severance not to be nice, not as a benefit, and not to attract talent, but rather to mitigate its own legal liabilities.
Any changes to the severance policy would be driven by the same factors.
Severance pay at T should be eliminated. Why would any company pay you for not working? This benefit should never have existed.
Blame the debt if you like but we can't be paying more than other companies.
T is going to have to implement more benefit reductions to help lower the debt. No one should be surprised to see this put in place.
Check with santone, she keeps harking on the fact that T benefits are way over the top as compared to other companies. She has vowed to reduce and/or eliminate all benefits to bring them in alignment with our competitors. Severance pay is one benefit she would like to eliminate, not reduce, eliminate.
Same rumor every year that never happens
I've been hearing some rumors, please tell me it isn't true.