Management severance is scheduled to be modified 4Q 2024. Beginning 1Q 2025, severance will transition from a flat 6 months of salary for management employees to a tiered severance pay progression based on role level. For example, a surplussed L1 will receive 1 month of salary, L2 will receive 2 months, and so on. Managers who are hanging on to receive their 6 months of severance may want to volunteer to be surplussed before EOY. If you are at imminent risk or not in a hub location, you may want to press your leadership team for transparency. They are aware of the change but are under NDA until a time yet to be determined.
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I've heard strong rumors around the bonus being cut or eliminated, not the severance.
I don't buy this either. Cutting severance to 1-2 months for the majority of employees who would be affected? There is no real incentive to take it. If you think severance is meant to help you out, while it surely does, it's really not that. The severance is a bribe, to have you sign an agreement not to sue or make any claims of wrongdoing. It is there to protect the employer, not the employee. So why would they start removing their own protection? Offer people 1 month, many will decline and start filing claims, including claims of the company unfairly altering the terms of their employment by reducing the severance amount. Doesn't make sense.
A shame that the Union benefit does not cover management, contract says one year of severance.
Why would a Union benefit cover non-union employees? Do they pay dues? The Union is not there to fight for them, then.
Made up nonsense.
It's possible that they will try to decrease the current severance package and I can totally see Stankey and McElfresh trying it. However, if it gets any lower than it currently is it becomes worth it to take the chance on suing. I am sure there is a lawyer out there interested in Stankey's statements on employees being too gray, white, male, straight, or whatever and it would come out in discovery at the trial.
Good luck with that!
New Jersey law says you can’t.
In fact, you’ll owe me more than 6 months and if you don’t notify me 90 days prior, you’ll owe me an additional month.
So GFY
One months pay. That’s low enough to deny, not sign the paper and then age discrimination lawsuit.
"My supervisor doesn’t know."
lol'd
My supervisor doesn’t know.
There's no such thing as volunteering for a severence.
There is no flat severance. This isn't your sister.
Severence is based on years of service. Like your mother.
You want the severence? buckle up for either h3ll or luck. There's no in between. Its your career or its ATT's career.
Luckily NJ has some protections for that :
“ Under the amended law in 2023, employers are required to pay all terminated employees severance of one week of pay for each year of employment even if they provide the full requirement of 90 days' notice. If an employer fails to give a full 90 days' notice, they must pay an additional four weeks of pay to the employee.”
Company and Stankey been cutting benefits for last few years. If they reduce severance it is no worse than them removing Medical subsidy for pre and post Medicare, or reducing vacation time, or reducing pension contributions, or forcing people to come to office. So what if they reduce severance? In the mean time in the last four years each year I made close to $200,000 with bonus and benefits and all. I am far ahead. I stay until they surplus me.
Since StinkeyStank can't grow a business profitably and now has us in 2 commodity businesses (fiber and mobility) they will look to cut anywhere....wouldn't surprise to see them massively reduce separation payments..
Stinky will continue cutting costs unfortunately....
The Stank should be terminated, that will save $30M.
Total BS. Mgmt severance has never been a flat 6 months. Go back to your picket line.
A shame that the Union benefit does not cover management, contract says one year of severance.
I believe it was 4% of salary per year of service, max 50%.
It is indeed, tiered, but I believe the original poster was simply defaulting to a maximum of six months, for which many employees would qualify. I don't believe this is a troll post.
There are still big changes, started with CO and management now. Next craft under new contract. T's goal, Retirement and pension will be calculated in a different way. Reducing health benefits, even wanting wage scale change, to "meet industry standards". They want reduction in management tiers, management pay might be scaled to their teams performance. As well as employee pay based on performance and point system. Change retirement parameters, changing the rule of 75. Easier for them to hit management first, no union to fight with. Not that our union seems to be making any Headway for us.
A flat six months was not a clear statement. The current severance structure is based on tier, but the principle of the thread is that severance will be cut drastically from whatever your role provides to you in its current form.
It’s already tiered based on years of service, id--t.
It never was a 'flat 6 months' so try again troll.