I'm sorry to bring this up again but even after reading the MyHR page I'm still not clear. Is the "Minimum Cash Severance Payment" actually a minimum, regardless of your years of service?
In that case a 57 would who has been here for 4 months would receive: 60 days (WARN) + 66 days (severance minimum) + 5 days (partial year of service)?
Am I accurate on that? Thank you.
please search “severance” on schweb. there’s a lot of wrong information posted on this site about severance so best to look it up yourself
I am 58 and have 2 years years at Schwab. How much do I get?
I think L56 gets 60 days + 66 business days + your unused vaca/floating PTO + COBRA. Sick time is not included but if requested, the slap in the face can be provided for free, on the house, courtesy of CS. ;)
As far as a I know (for lower level employees; I’m 56), it’s 10 days of pay for each full year you’ve been with the company. Seems like kind of a slap in the face tbh
COBRA lets you continue health insurance for your or your entire family, after being unemployed. During the 60 days after notification, you continue to receive regular paychecks and have full benefits, that includes heath insurance coverage per your current elections for the year (plus other benefits such as 401K match, etc.). After 60 days, by law, you can continue your health insurance coverage, by paying out of pocket, through COBRA program. Schwab will pay you a lump sum for partial coverage up to 6 months, and your pay the other portion. Not sure of the percentage here, but you do get this additional lump sum, in addition to your severance payment. Hope this helps.
Jumpword Doritos
there's also some posts about COBRA payout, could someone please explain?
@qud+1o3ezfwV “not a JW” 🤣
It’s minimum 110 days, up to max of 220 days. I.e 11 paychecks or 22 paychecks plus unused accruals, not including sick time. And you remain on payroll for 60 days, 4 paychecks.
L58 - 60 days + min 88 business days
To the person who's a 58, I think you should read over the severance plan again
To the person that's a 58, I'm pretty sure 88 days is the minimum severance payment at that level, regardless of time at the company
I’m a level 58 who’s been at the company 9 months, and according to myHR, I’ll get 7 days severance 😑 If this was happening in December, I’d be getting 88-220 days. What bullsh-t.
also, it has been discussed at nauseam in this forum, just use the search
Search "severance" (not a JW) and then follow the link to the "severance pay plan" - it's the first one that comes up for me. Or you can go directly to myHR and search for the severance pay plan.
JW: MyHR then Severance
Nothing with JW severance
$5 and a bag of Doritos
JW severance