I have not been laid off yet, but with the amount of org changes and upper mgmt leaving in my area, I can see the writing on the wall. Can someone who has recently been impacted by a layoff let me know what the bank severance package looks like? Is it still 12 months? Do they gross it up for tax purposes (heard a rumor that they do this) or if not, is it taxed at a higher rate like a bonus is? Do they provide any medical insurance coverage at all or supplement the cobra costs? Do they provide any resume assistance or headhunter services? And if they do, did you find these helpful at all? If you get laid off, do you receive any portion of the upcoming annual bonus prorated? Are you expected to work during your notice period or do they tell you to ship back your equipment and stop working immediately?
Thank you!