Thread regarding VISA Inc. layoffs

Severance Payment

Do you guys know what package I might be getting as I will likely be cut very quickly (it's slow - no work in my area)…

I’ve been around about three plus years – also what’s your opinion about COBRA coverage – is it worth it expense?

I am still fairly young and single and the price looks a bit steep – my plan is to take my severance and travel as much as I can…

Please let me know.

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Post ID: @OP+K5ZiRoc

10 replies (most recent on top)

I concur with comment of maxes at 12

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Post ID: @7twu+K5ZiRoc

Visa has paid to control media. 1500 people bieng impacted is big

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Post ID: @6bfw+K5ZiRoc

They've pushed out dozens over last few years - all in late 50s to mid 60s with decades of service. If you feel that you have been targeted based on age and/or retaliated against consult an attorney. Check out the Department of Fair Employment and Housing - I don't know if you need an attorney to file a complaint. If enough people report shady dealings with layoffs, hopefully this will be made public like Yahoo and Google reports a few months back. I'm surprised there's been nothing in the news about the layoffs - Twitter had much less and the press was all over it.

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Post ID: @2ndr+K5ZiRoc

I know I am next on the list will definitely seek legal council if it's just 1 year, but if it's one month for every year ? After 24 I ll take that

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Post ID: @2xuw+K5ZiRoc

At least the market is so good right now, nobody should have hard time finding a new gig.

Good luck to all - I left on my own in 2015 but I have many dear friends at Visa and I am checking the posts here.

My current company (Intel) also has a board here and we had massive layoffs and boards were going nuts earlier this year.

My plan is to go back to school but there are many folks with families who have to provide and it's a hard bargain when you have a situation like this - that's I wish you all the best and I hope the axe of layoffs avoids you...

God bless.

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Post ID: @olu+K5ZiRoc

@oar that' covers California - many other locations will be affected

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Post ID: @ghq+K5ZiRoc

Just go and travel! Best time to do it.

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Post ID: @eug+K5ZiRoc

PS - cobra is way too expensive. Find an insurance broker - you can do better. Also, if you are not earning income you may want to check out covered california website - you may have some opportunity to receive help. You should also see if you can qualify to collect unemployment if you find yourself out.

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Post ID: @oar+K5ZiRoc

I think it is a month per year with it maxed out at 12 months.

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Post ID: @seo+K5ZiRoc

1 month for every year of service

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Post ID: @eyr+K5ZiRoc

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