Been hearing that since I’ve been with the company for 10+ years, I get two weeks of severance for every year I was employed? Is this true? If so, I heard WF has a procedure in place to actually help keep you from collecting on this severance if you start working for another company within a certain amount of time? Is this true?
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First it depends on what state you live in. If you get the 60 day non working notice, you'll continue to get paid, as an employee for the next 60 days. It's like being on PTO for 2 months. After the 60 days is up, your severance will kick in. You basically get a paycheck every other Friday. If you find a job, during severance, you are required to report it to the displacement team, and you will receive whatever is left of your severance in a lump sum (after they tax the heck out if it). If you find a job within that 60 day period, you will NOT get severance, because that is considered a resignation. All this information is in the employee benefits handbook.
@OP NOT IN CALIFORNIA. THEY SENT US A LETTER TELLING US THAT THE NON-COMPETE CLAUSE IS NOT GOING TO BE ENFORCED IF YOU FIND WORK WHILE RECEIVING SEVERANCE
@ap only if you request it in the displacement paperwork and wish to be wholly cattle-prodded by the IRS and State tax, if applicable.
Been here 10 years and can't search Teamworks for anything. Gets all their information from the smokers' area by the loading dock.
After not working for 60 days do you get the severance as one lump sum?
You can’t work during the 60 days of notice because you’re still considered an employee. Once severance starts you can go elsewhere. If you try to cheat and work during the 60 days of notice and they find out, you sacrifice the severance. And tax records make it easy to track. Good luck, OP. Everything will be okay!
These comments ge-z, be kind? Maybe HR wasn’t helpful to the OP. I’m hearing stories of badge access not working to find out they are laid off. Should be 2 weeks severance for each year of severance after 60 day warn notice. If HR finds out another job worked during the 60 day warn notice, severance could be in jeopardy. Not sure how they find out.
Read the d@mn docs you were given.