Heard about the layoffs today. I am sorry this is happening to you. Can you kindly share how much severance is FIS giving?
14 replies (most recent on top)
@ap can you share where exactly you found this doc?
@ax No lump sum. I’ve heard that is basically not happening to anyone anymore.
2 weeks per year of service, 3 months paid insurance. Did anyone get lump sum offered for those released today?
@ap They must have updated the severance policy on June 4th. I got laid off last month and got 52 weeks of severance paid on every payroll cycle over one year. It used to be two weeks for every year of service, and the maximum is one year of salary. I guess FIS doesn't have enough cash to pay for severance with so many people getting laid off. An ex-coworker got his severance in a lump sum in February this year.
@OP According to the document I downloaded from workday, it's 2 weeks per year of service, with a maximum of 26 weeks (i.e., you max out at 13 years). I'm in the US, so I don't know if it's the same for other countries.
@am is this the US or does it cover all countries
@ag everyone gets 2 weeks per year of service - you didn’t negotiate sh-t!
@a3 they can if they put it in the budget already. My friend was here 25+ years and took the payout, but over 12 months.
got 20 weeks for ten years. negotiate, people
@a8 that's insane. I got 14 weeks for 7 years
I had been with FIS for a little over a year and got 12 weeks of salary. I suspect this is the bare minimum they offer as part of the severance package.
@a1 when did you see this in the handbook? They changed the handbook on June 4th and it says nothing about severance now.
@OP Two weeks for each year of service and the maximum is one year of salary. I was let go last month and my severance will be paid on each payroll cycle over one year. An ex-coworker got laid off in February and he got a lump sum. FIS cannot afford to play out severance in lump sums with massive layoffs like this.
The employee handbook states 2 weeks for every year of service with caps depending on your position.