Besides unemployment, if you aren't fired (with cause) and are "just" laid off (zero fault of your own-outsourcing; no bad reviews), DO you receive severance? Also- is it one pay per year? Example- I have been here 9 years, so that is 9 pays: right?
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You get whatever they graciously decide to give you. They are under no obligation to give you anything. Up until last year, most people were getting the standard 2 weeks per year. But that is not the case anymore. You might get something, you might not. It's a cr-p shoot.
Also note, if you are in NY State, you will not be eligible or approved for unemployment until your Supplemental pay term is up. I am proof of that, so budget your lump sum accordingly. On another note, if you have it in your mind you will get a job pretty quickly, think again. I was laid off in February with 15 years of service and after about 100 applications , I was interviewed less than 10x, only received 2offers, just within the last 2 weeks. I finally will be employed again starting next month. It took 7 months!! And let’s not forget employers are not paying what you are worth or what you truly deserve.
You get 2 weeks for each year of service and it’s rounded up. So say your anniversary is on September 1 and you get laid off after that, they consider it your 10th year so you would get 20 weeks. If your anniversary hasn’t passed you would get 18 weeks. It’s 1 lump sum payment and taxed around 40%.
You will be paid in a lump sum 2 weeks for each year you are there so 18 weeks.
Correct—-one pay per year served.