I’ve always wanted to know if anybody has negotiated a higher severance? Is that something the company even considers. I’m sure it happens the higher you are up in the org, but what about all the regular folks. Anybody have any insight?
8 replies (most recent on top)
Severance negotiation is possible based on how unique your position is and if you are a one off or not part of a group. It is important for any employer to be consistent with severance based on the situation. Thus how unique your situation is will enhance your negotiation possibilities.
I sure hope they don't follow Elon's lead at Twitter.
When i joined originally, i negotiated a guaranteed severance for 5 years of service if released in less than 5 years. (I did take a slightly lower salary which was made up in 3)
Instead of laying off staff, TR will first attempt to load you with work in hopes that you will quit rather than be laid off. McKinsey at its finest.
@1syf+1jn1MrXQ Not this year so far. Just planning if I do. I’m sure it will come eventually
As for the other poster thanks for the info. Always curious how flexible things are.
You did not get hit by a workforce reduction LayingFlat, did you?
I should have added that I had been with the company long enough to have maxed out on the policy of two weeks severance for every year of employment up to 52 weeks. So in that sense, my severance did not increase. But if that rule still applies and you’re below the maximum, maybe there’s a negotiating opportunity.
I guess this counts as negotiating higher severance. My position was eliminated mid-November 2018 and my last day was supposed to be two weeks later, end of November. It would have been nearly impossible to transition Director-level responsibilities to my remaining staff in two weeks, and with the holiday. I asked if I could stay until December 31 and my manager and HR agreed. They got another month of work from me plus a much smoother transition and I got another month's salary and full rather than prorated bonus. I'm not aware of any other employees who negotiated for higher severance but based on my experience, what do you have to lose by asking? I suggest pitching it as in the company's best interest.