Once upon a time it was generous, but we're in a brave new world now and I'd like to know what to expect if I get cut.
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Not sure about TX, I was in CA and cut in Nov 2016. I was with EMC for 10 years, in my 10th. I got 20 weeks. I know someone else who had 13 years and some months, and that person got 40 weeks, but he's older too.
In CA you're less likely to be laid off the closer you are to retirement, my guess is probably within 5 years, maybe even 10, due to age discrimination, I think it was that CVS a lost an age discrimination case several years ago. So here if you're more than 10 years from retirement that and near the top of the pay range you're a better candidate for cost savings, generally speaking.
Regardless, I was pretty happy to be let go, I'd been looking for something better for me for the past few years and the layoff forced me to be less picky and just do it and I got some parting gifts.
I was walked in July 2015 after 17 years (two groups consolidated into one and I was the oldest and highest paid so they bumped me and gave my job to a younger person with less experience and lower pay). I received 2 weeks pay for each full year of employment, plus prorated bonus, plus paid for my accrued vacation, and two months free Cobra. I was sent a gross check for $95K, and I walked away with a smile on my face. Went to work 6 months later (after taking a nice relaxing break), and now work at a company where I'm actually happy and appreciated. Anyone who was offered a severance package to volunteer should have taken it (if they offered it) because I doubt that they will be as generous now as they were then. Happy job hunting, because the market right now is a b***h. We've screened about 50 people and interviewed 10 for a mid level engineering position and have the pick of the litter. Get your resume brushed up as you will need it.
Copy the link and place it in the browser and it should work
@ngc your link is not working
Nada Zilch . How do you propose they pay off the bonds that was sold? Corporate Debt is at 3T and counting
https://www.moodys.com/research/Moodys-assigns-PBaa3-to-Dells-proposed-secured-notes-all-other--PR_348681