Clarification on Severance

Hey folks,

Since the official documentation is kinda terrible at explaining this:

IF you DO NOT sign the waiver:

You get 4 weeks of basic severance regardless of length of service

IF YOU DO sign the waiver:

You get 3 weeks per year worked based on the supplemental severance . Exactly how a year is defined - I'm not sure. If someone can clarify, that'd be great

NOTE: You DO NOT get both the basic and the supplemental payments!

Additionally, by getting laid off you'd be eligible to apply for unemployment. However, unemployment cannot overlap with severance payments. In other words, you'd have to wait till severance payments run out before getting unemployment funds.

Hope that helps!

Comment! It's anonymous!

9 replies (most recent on top)

From April experience, laid off and eligible for retirement and I received severance lump sum in one payment 4-5 weeks after signing letter. No hassles or problems

Thanks 146764

Thank you 146764!

What payment are you talking about that you get one year later if eligible for retirement?

Sorry clarification, I meant to say if you were eligible for immediate retirement post separation date.

Lump sum payable in 4-6 weeks after last day on payroll and receipt of signed severance papers. EXCEPT if u are eligible for retirement the payable in two equal payments. First now and The second one a year later.

That's a good point - it depends on how you get paid. Do we know if employees will get a lump sum, or biweekly/semimonthly payments?

Once you get the lump sum check, that next week you can file for unemployment at least in Oklahoma. Regardless of how large that check is, they will only consider it one week of pay.

The information about unemployed insurance is not correct. Contact the individual state in the US for clarification.

Thread regarding ConocoPhillips layoffs

Clarification on Severance

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