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.
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)
I received two weeks pay per year.
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.
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.
Legally, if you’re 40+, 2U needs to give you 21 days to consider the offer. Look up Older Workers Benefit Protection Act
That might be true - but you have no rooms for negotiation. You either accept the severance or you don’t.
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.