Thread regarding Bank of New York Mellon Corp. layoffs

@1txm, unless it's changed from 2021 the minimums are

• AA to II and E to F 4 Weeks
• G to I 8 Weeks
• J to L 12 Weeks
• M 24 Weeks
• Senior Leadership Band 36 Weeks

Of course you still need to be unemployed to collect it.

@1vpe

Why not graciously accept the package, use it for a year while job hunting and not try to game the system? What’s so wrong about doing the right thing?

Whats minimum for J and K?

How does the bank know when you get a job, to stop paying SUB? I heard about a "honor system", but I wonder if anybody actually did that.

@1zny, do you mean June first would have started another year for you? This was in my agreement: "Years of service are generally measured from your hire or rehire date and are rounded up to the next full year."

It's not just 2 weeks of SUB pay per year. There are also minimums based on your pay grade. And SUB pay isn't subject to SS.

Confirmed 2 weeks SUB per year of service (I got RIF'd in May, June 1 would have been another year and they didnt give it to me). You still get benefits until SUB runs out and can also claim unemployment (maxes out at 1k per week and lasts 6 months). It's actually not bad considering what a sh1tty company it is.

Two weeks per year and benefits. It’s not severance, it’s supplemental income. As others have said, you can collect unemployment. If you take another job the payment discontinues. If you made $200k per year and take a min wage job it ends.

…and it’s 2 weeks per year or the minimum for the grade level, whichever is higher.

It’s a supplemental unemployment benefit, not severance. Paid periodically like a paycheck and stops when you stop collecting unemployment (or it runs out). You can also collect unemployment along with it.