My 4 week severence was only amounted to approximately 60 pct pay of what I expected .
The severence checks were 1100 dollars less than my bi weekly weekly paychecks and this is without insurance or 401k with holding
Emailed them 4 times . No response explaining
I would not count on receiving severence from Nielsen at this point . Please be prepared in case of more layoffs
Not getting severence kind of amps up the pressure greatly!
Wow, I only got 1 week per year when I got the ax a few years ago. I didn't really push for more since I was just happy to be done with the place and be able to take a lil vacation. Hadn't taken one for 9 years prior. As for salaries, I must have really been a su---r. I worked in a client facing/sales position, made the companies MILLIONS in revenue over the years, yet never cracked $100K in salary. How pathetic is that?
Continuing to my reply I’ll address the other comment. Severance was 2weeks for every year if under 200k 3weeks if over. Up to a max of 26 weeks. So for you, 10yrs of service, you’d get 20-21weeks effective on last day of employment depending how are far into the next year you landed. Anyone with over 13yrs of service will lose money as you’ll cap at 26 weeks regardless.
That’s not the case. Since 401k isn’t taken out for severance you are just getting taxed higher off the gross. If you had/have medical benefits that’s still pre-tax. So you’re not getting ripped off you are just getting a taxed at the new gross because the 401k is no longer being taken out.
What was the severance like in the last round? Was it a certain number of weeks for every year of service? Was there a cap? I'm wondering what I'd get if I get laid off after 10 years of service. Thanks!