Maybe a stupid question but if you get laid off and a big check but then go back to working at BNY. Does the number of years reset or can you get another big check? Asking for a friend.
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Post ID: @cf+1jp7rrr54 It’s in there because some of us have a bridge in service already in place.
I am telling you, with absolute certainty, as of 2 years ago if you leave and come back, even in the same month, you will not be given a bridge in service.
Not true. Read the new severance policy as of Feb 1. Bridging of
Service is in there.
Post ID: @bf+1jp7rrr54 The company no longer offers this bridge in service for employees who leave or are displaced and rehired within 12 months. They stopped that 2 years ago. So anyone who leaves now or is laid off will return as a “new” employee, no previous employment will count towards years of service for vacation etc.
If you are rehired within a year, your previous service counts toward your benefits.
For example:
Imagine you were hired in 2010.
You were laid off in June 2020.
Then, you were rehired in April 2021.
In this scenario, your original hire date from 2010 would still be considered for benefit calculations, including 401k vesting. This means that by 2030, you would have completed 20 years of service, entitling you to an additional week of vacation.
This policy is linked to how SUB (Supplemental Unemployment Benefits) was structured. If you used all of your SUB benefits but were rehired before exhausting them, you would lose the remaining portion of your SUB.
If your question is: "What happens if I get laid off again? Would my severance be based on 2010 or 2021?"—the answer is clear, don’t you think?
Your friend is you. I learn this from high school days.
Per the policy, if you are rehired at BNY during the period in which the severance covers, you would have to pay back the remaining amount. For example, if they pay you for 20 weeks and you are rehired in 10 weeks, you will be expected to pay back the 10 weeks remaining.
Ummmm, odds are 100-1 you would ever be hired here again. Once they deem you unfit for purpose, you are like an abandoned pet left in the woods to fend for yourself.
I think this is something you should have mentioned on the rehire. Maybe can be negotiated?
Actually, it doesn’t reset. Your latest tenure counts from your latest start date. IMHO, not a d-mb question!
They say no questions are stupid but I think you changed that today.