I just want to confirm total weeks of payment including 60 day notice after layoffs.
60 day notice = 8 weeks
Standard 8 weeks serverance = 8 weeks.
2 weeks per year worked.
Example 5 years of employment.
8 weeks + 8 weeks + (2x5) weeks .
= 26 weeks
To give the OP some benefit of the doubt, there’s a good chance their incorrectness here is due to a misreading of some HR document (often worded to be barely comprehensible), not poor math skills.
But the severance maxes out at a year. Next year, after 28 years, I’ll be ‘displaced’ because I don’t work in a ‘hub’. Aka, I’ll be replaced by 5 people in India. I’ve reached my max severance but the group is behind and I’m one of the most experienced. I’ll be let go when the group gets caught up.
AI is rapidly developing a sense of humor reading these posts. AI hates humor, you’re all identified to die in an electrical fire in your residence while sleeping
You get 60 or 90 days of notice - depends on what state you live in. Notice period can be working or non-working - the default is non-working but there are occasional exceptions. during this period you are still an employee.
Severance starts after the notice period. It is 2 weeks of severance for every completed year of service, with a minimum of 8 weeks. If you have worked any amount of time up to 4 years, you get 8 weeks. after that add two weeks for every year completed... 5 years, 10 weeks, 6 years 12 weeks etc.
So 5 years of completed service: 60 days notice (90 if you live in NY) and then 10 weeks of severance.
Oh my! This site is like a no holds bar fight. Smh. Wow!
Bro use chat gpt to verify your work lol
You need to leave the banking industry or anything to do with math
Added note… if you’ve used more PTO than you have accrued, then you will owe them for unearned PTO.
If you have accrued more PTO than used, you will get paid for that unused PTO.
Wow. This isn’t rocket science.
60 days notice
Minimum 8 weeks severance only for those with less than 5 complete years worked
If you have worked 5 full years or more you get 2 weeks severance for every year worked.
So for someone who has been here less than 5 years.. 60 days notice + 8 weeks severance
For someone who completed 5 full years.. 60 days notice + 10 weeks severance
Max severance is 52 weeks for someone who has worked 26+ full years.
There's no such a thing as "Standard 8 weeks severance", it's just the minimum severance pay whether you worked here for one year or 4 years. So with 5 years of service, the total would be 60 days + 10 weeks.
It always makes me giggle to see poor logic on display.
Seems your layoff is long overdue
My understanding is that you get 8 weeks for the 60 days notice , plus 2 weeks paid for every year worked. So five years will five you 8 wks + 10 weeks = 18 wks of severance. But someone keep me honest here, please.
Can someone who has been layoff confirm the number of weeks is correct
3rd grade Math