So let me get this straight. If you accept the vsp you get 4 extra weeks of pay. If you get laid off, you get severance but it’s 4 week smaller than the vsp check?
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@h7 - before all of this happened I knew of some people laidoff who did not get 2 weeks per, they got 1 week per year so I don’t believe this is true across the board for all layoffs.
Our HR business partner said that normal severance is 2 weeks per full year of service (no limit). It also includes the pro-rated bonus. From the HRBP: the VSP “incentive” is the extra 4 weeks of pay.
The one thing I can’t find an answer to is what kind of COBRA is offered in a normal severance. As a long-time employee, I was offered 8 months COBRA. I’m not sure if that’s what I would get if I were to be RIF’d instead.
@f8 promise it’s true. No reason to lie, 16 years in and this is what they offered.
I doubt if I stay and get laid off on second round I will get that much time
@fa
And per discussions with other coworkers hired on same time. Was same amounts.
@cj
Been here 2 years was offered 6 weeks severance so that’s 3 weeks per year plus the additional 4 week bonus. 10 weeks total.
@a6
So then do you say the new VSP is excessively much higher aimed at SL people with longevity for more money and higher leaving ?
@d4 🤯 WoW 32 weeks really ! I do not believe a lot of this cr-p posted here.
@OP
That’s what everyone says but keep this in mind you can get UE also. Some states pays more. Less tax too. It’s a tough call. I’m not taking it. Who wants to work until maybe 9/1. It says that date Could change based on needs. And so you can’t get another job yet either. wtf 🤬 unless I was getting a sh-t tun of money. It’s not worth it
I got 38 weeks plus 4 additional and bonus , my question is if we ge of later on will the difference just be the four weeks ? Or bonus too?
By law they do not have to provide severance. They can lay you off at any time.
Long term employee here, was offered 32 weeks severence. Still on the fence but I can bet if I stay the next round of layoffs will not offer as much.
@a6 Incorrect. I've been with the company almost 11 years and got a 22-week offer, plus the four weeks of "enhancement."
@a9 that’s false
No one knows for sure, because the terms of the next layoff haven't been stated yet.
For all you or anyone knows, there might be NO severance at all being offered on the next go-round. Or very much less than what's been offered previously.
What is known, is the terms of the VSP.
That's for sure.
Everything else is merely assumptions and speculation.
@a6 14 week max. No wonder so many are taking the VSP.
@a6 I also don’t believe all prior layoffs got the same number of weeks. I’ve heard of some who got 1 week per year of service.
Dont know the exact answer, but based on previous layoffs discussions they provided 2 weeks of severance per year of service, with a maximum cap of 7 years of tenure. In other words, employees received a maximum of 14 weeks of severance, regardless of how many years they had been with the company.