For severance they do a calculation based on max of 1 week per year of service or a minimum based on your pay position grade. If you were on Unlimited R&R or considered position grade 11, the minimum is 10 weeks.
You also get 45 days of outplacement service. 2 week pay in lieu of notice. Subsidized cobra at existing rate for 6 months.
Bumping this from the "Severance Question" thread as it is relevant info that should stay on top. Original is at @2ojj+1j8uSviE.
Laid off today - severance was at 2 weeks per year and I did not negotiate.
Happened at First Data too. Fiserv is the new First Data.
Yes. Those people were the luckier ones.
Luck has nothing to do with it. The folks who got max severance based on years of service (up to 6 months for some) + extended severance negotiated that. They planned their exit with management and HR, leaving with a package that also included deeply discounted medical benefits.
They don't have to offer any severance its just a way to avoid litigation (sign away rights for money). If it is not in the employment contract you signed its not required at all...ever.
to be clear I am not defending what Fiserv is doing to the severance package. It' s pretty S1tty and unethical. My point Fiserv HR cannot be trusted
Fuel may not be a legal document and YES the company can change policy at will HOWEVER they cannot do it without letting the employees know.
Fuel is not a legal document and the company can change its policy around severance at any time.
Fuel states 2 weeks
How can they drop it if they have a published plan with two weeks on fuel? Does not seem legal.
Wow. Of course they dropped it to one week per year. This happened at First Data too. Unbelievable!
Yes. Those people were the luckier ones.
Assume this is what Fiserv is offering now for severance. If so, then they have definitely reduced the severance package from what I was given in February that included “Enhanced severance” money to stay to the end date and do a knowledge transfer.