It's not surprising that my colleagues don't put in much effort to at least try to keep their jobs - the severance pay is very good!
In fact, I think that some of them might be even deliberately slacking off in order to get laid off!?
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I got 90 days to look internally (I didn’t) and then I was paid a lump sum for 12 months of severance. What was weird, or I thought was weird was during that 90 day timeframe they wanted me to do no work at all so technically it was 15 months severance.
I know it’s uncomfortable there now, but I’m telling you it was the best thing to happen to me. USAA has changed so much those benefits they dangle are not so rare anymore and their pay has always been mediocre, so what’s their draw now? There is a good life outside the gates.
@1xmc+1mRee6zV, it's public info on the internal network, >> go/severance/
What was the monetary severance in ECIO?
I was impacted as part of ECIO, just clarifying a few items that are a part of our severance. For non bank employees, Cobra insurance is 65% subsidized by USAA for six months and there is a statement that says USAA does not subsidize for bank employees. Also, we can come back at any time, however if we take the severance, we would have to pay back a prorated amount.
USAA is finding new ways to fire people instead of give severence packages.
That is why Wayne doesn’t go with voluntary layoffs, especially in the bank. He knows the that the wrong people will take it and leave to another company, leaving him & Paul Vincent SOL.
@1mpk+1mRee6zV
From what other bank employees have told me, you can either accept the severance right from the start, and it’s a lump sum payment OR, you can try to find something internally during the 60 days while they still pay you normally, then if you’re not able to find anything internally by day 60, you’ll get the lump sum payment, with the agreement that you cannot reapply to USAA for the next 12 months, if you do and get the job, you pay back the severance.
I know in bank it is a year of pay. Does anyone know if that is paid as a lump sum or continued biweekly payments? Also are there contingents with the severance, like you only receive pay until you find another job?
It’s too easy to coast and not get fired here. Thanks to senior leadership not setting strategic objectives that managers can translate into actionable goals, they aren’t able to hold their folks accountable. Also, most middle managers are burned out themselves and too lazy to properly document, coach and mentor their employees.
Wouldn’t they just get fired? Doesn’t USAA still do that?
Bank has an excellent one with a year of salary, but the other cosas don’t