Rumor has it that the big wigs will analyze for defects, etc and if any in the past several years, they won't pay severance.
Pretty sure they can't do that with WARN and the like, but, has anyone heard of this?
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Severance, do not trust them, class action needed
Unfortunately, although the current severance plan in place is quite generous, it is not obligatory and the company may choose to alter the plan at any time and as long as the terms of any new plan are consistently followed, there is really very little recourse. At one point there was a plan for legacy resources for a company that was acquired years ago and several people took advantage of that plan which was even more generous than the current plan. That plan did expire a few years after the acquisition was complete and people who were from that company and were later subjected to the current plan lost quite a bit of severance, It has happened and I would bet that with the current layoff rates, the company must be considering ways to reduce severance costs, Although I haven't heard anything official, it does make sense to investigate cheaper ways of reducing headcount.
They may stop giving severance..that's one of the reasons I took a package... They said severance may not be an option in future layoffs.
I haven't heard this, as a matter of fact if you look up on flagscape the corporate severane plan, you will see the terms outlined in like 25 page something document. The current terms and conditions of the plan have been around at least for the better part of 10 years or so, which is the length of my tenure....reason I know is I check every year on the terms and conditions and they have not substantively changed. Won't put it past management however to screw us in some way or manner, just simply saying this is my knowledge from past research.