I know we are all anxious about what is going to happen. But we can not influence the outcome. Just keep the mental distance, do the bare minimum at work and at least investigate the job market.
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The maximum weekly pay in PA is $594 — i can’t pay my mortgage with that… sorry. I’ll stick around as long as I can to get a good job elsewhere, but would not be able to “relax” on that.
I received my severance as a lump sum and, since I'm eligible for unemployment (minus the two-week waiting period), decided to take advantage of it. After paying into unemployment for years, I’m using the time to relax and search for my next opportunity, while investing the severance. Win-win.
“The higher your severance payout the lower your unemployment checks will be. In a lot of cases you won’t even be eligible for unemployment.”
This is 100% true in PA. I know from experience.
A five figure severance won’t pay half my mortgage or 2 weeks tuition for my step kidses private school.
They better step up. They owe us more then that.
OP - this is the way
It depends on the state entirely
Must depend on state, in mine a lump sum severance does not affect unemployment benefits.
Wrong.
The higher your severance payout the lower your unemployment checks will be. In a lot of cases you won’t even be eligible for unemployment.
What is actually better is getting severance pay plus weekly unemployment pay for up to a year after you leave the company.
This way you can stash your severance pay into savings and use weekly unemployment benefits to pay for expenses while traveling and doing whatever you want everyday. CC is responsible for a year of unemployment pay for each employee if they do layoffs again.
You’re assuming the severance packages would be close to what has been offered in the past
A five figure severance check is better than unemployment
Doing the bare minimum is a good way to get on the next layoff list. I'm aiming to stand out as a solid performer.
A job with our new overlords is better than an unemployment check.