For those of you that have been laid off recently, were you required to work all 60 days of your notice period? Or were you allowed to leave earlier and still get your severance package?
11 replies (most recent on top)
Once my manager advised me of the layoff, I never heard from her again. All contact was with Career Transition Services. My role was eliminated so there was no transition plan , the work was just stopped. I was basically paid for two months to find another job. Pension came as agreed and boxes were sent for all equipment. The only thing I kept was an ergo chair as I was WFH and they did not want t pay the freight to ship it back.
One thing you need to know is to be very strategic if you decide to look internally. If you post for an internal role at the same or higher salary and they make you an offer and you decline, you FORFEIT your severance..
I agree with the above who said " The 401K rollover was very straightforward. The pension rollover is a bit more complex. You have to fill out some forms and it takes some time. You definitely want to get out of that pension. It's capped at 2% max and it's subject to fees, now that you are no longer an employee. Fidelity has money market accounts that pay double that, without any fees."
I wasn't asked to do much of anything to be honest. Never heard from my manager, or his boss, even once after the layoff notice was given. Good riddance to both of them.
To USAA's credit, they did have a lot of career transition services like resume prep and how to improve your LinkedIn profile. Some sessions were more useful than others. I spent all of my time looking for a new job and was lucky enough to find one. I could never get anyone in HR to tell me exactly how much my severance would be reduced by leaving early, so I just stayed until the last day.
The severance check and PTO payout arrived as promised and were accurate. They sent me boxes for the monitors and laptop, badge and credit card. I returned everything and presume it arrived, as I did not hear from the Asset team. Kept the UPS receipt just in case.
The 401K rollover was very straightforward. The pension rollover is a bit more complex. You have to fill out some forms and it takes some time. You definitely want to get out of that pension. It's capped at 2% max and it's subject to fees, now that you are no longer an employee. Fidelity has money market accounts that pay double that, without any fees.
What about your cell phone if you are grandfathered into the BYOD where USAA pays the entire bill: how soon does your coverage get shut off? Can you take your phone into AT&T and have them switch the bill into your name? Or if AT&T sent you a new phone as part of the USAA BYOD plan, is it "unlocked" once you are terminated to sign up with Mint mobile or another cheap unemployed person option?
I took 2 days to hand off my work and did not log in after for the most part. Found a job on the outside and so much happier. You can attend the information sessions if you want or not, no requirement to log in or do any work.
When you are given notice you are not required to work your current job. You may spend a couple days handing off your tasks. That 60 days you are to use to job search whether internal or external. You will also attend some information sessions to talk about what will happen with severance, signing severance, understanding cobra, etc. you do not need to physically login and be present. You can go to job fairs, network, etc. use the time you are given.
If you find a job prior to the end of your 60 days you will let your manage or HR know and they will recalculate your severance if it is external job. If you get an internal job you do not get a severance.
Your last paycheck will include any PTO that us to be paid out. Your severance is paid out separately once you sign your severance agreement which is sent to your personal email. It is stressed. DO NOT SIGN until after your last day.
You will receive boxes after your last day to send back any equipment. If you on,y have a laptop you will still be sent monitor boxes. Yes crazy. They say it is a standard shipment they send to everyone. I was directed to send back the empty monitor boxes. My laptop box I also included my badge and a bit that I only had a USAA issued laptop and monitor boxes shipped back empty.
Was a part of the wave notified on March 30. I literally handed my work off the following Monday and did no further work for the next 60 days. I logged in so I could take part in the resume and other workshops but other than that, that was it. I turned on my phone every few days but no one had anything to say to me so day 60 came and I was out.
I was part of the layoffs announced in May effective July 14. I completed what I could and handed off tasks not yet completed within two weeks. Since I was fortunate enough to be retirement eligible, I decided to go that route, so I literally did nothing for the next six weeks…didn’t logon, didn’t look at emails, literally didn’t do any work whatsoever. BUT, I continued to get paid throughout that period. 🤣
A friend of mine who was part of the Oct 2022 layoffs, she stayed on for the full 60 days, they gave her a week to finish up any work she had, and she spent the next 50 days applying internally/externally and getting certifications. On day 60 (which landed on Dec 8), she hadn’t landed a job internally, and she mailed back her laptop a few days later and that pay period she got the 12 month’s severance pay. USAA reached out to her back in March to come back, but she already got another job with a higher salary.
You don’t have to stay all day sitting in a chair posting messages to the layoff. Leave. They don’t want you there anyway.
So you came in for two weeks and looked for a job on their laptop???? So weird. I would have said just stay home and return equipment on your lat day or something…
I was laid off at end of March and NO, I wasn’t expected to work. Just turned over any assignments and main goal was
Looking for a job. Didn’t leave early but if you do, they may pro-rate the severance. Easier to leave and not tell them, and there wasn’t even a reason to come in last day.