Thread regarding 2U Inc. layoffs

Do NOT accept their severance offer without speaking to a lawyer!

It looks like they are only providing 5 weeks of severance. After speaking a lawyer, I'm told that 4-6 weeks (depending on level) of base salary per year of tenure is standard. This should also include equity and expected bonuses.

Some of you may be entitled to far more than they are offering. I highly recommend a free lawyer consult.

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Post ID: @OP+1itzsfYS

7 replies (most recent on top)

Be sure to double check the severence/unemployment thing. If severance is paid out in a lump some right away then it won’t count as income. It only counts as income if you are receiving it WHILE you are unemployed (ie like a salary)

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Post ID: @ldu+1itzsfYS

I received two weeks pay per year.

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Post ID: @sxv+1itzsfYS

If you are planning on collecting unemployment, please know the severance package will prevent you from doing so immediately after being laid off. The government will see it as "income" and the severance will need to run out before you are eligible for benefits. Just a head's up.

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Post ID: @pvk+1itzsfYS

Are you basing this off of the person who posted that they were let go but only started in June and got 5 weeks? Per Chip's email, the severance pay is based off of level and tenure.

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Post ID: @tlw+1itzsfYS

Legally, if you’re 40+, 2U needs to give you 21 days to consider the offer. Look up Older Workers Benefit Protection Act

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Post ID: @num+1itzsfYS

That might be true - but you have no rooms for negotiation. You either accept the severance or you don’t.

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Post ID: @znc+1itzsfYS

It's always been my understanding that standard is one month's pay per year of work experience. That's what I got when I was laid off FWIW.

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Post ID: @nin+1itzsfYS

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