Ive been looking through my stuff and i cant find anywhere what a redundancy package will consist of.
Is this something which is pre determined and somewhere that i can read or is it something which is decided on a per employee basis and will only be found out when i get the chop?
Ive heard different numbers from different people around the world. Some got 1 week per year, others got 1 month per year.
US employers are under no obligation by Federal law to offer separation packages. At larger employers, like Oracle, they are offered as a carrot to get you to sign away your right to sue for wrongful termination (i.e. some form of discrimination), in exchange for the package.
In the US, most smaller employers will simply pay you your wages earned, plus any accrued vacation hours, and that's it. Maybe you'll get two weeks severance, if you're lucky,
Workers in third world countries tend to have more rights than Americans: like guaranteed paid time off and paid holidays, severance pay, and other benefits.
The packages must vary by country according labor laws. European countries tend to be much more worker friendly.
Oddly, when they canned the UK support staff they all got 52 weeks as part of the package.
It used to be documented on the Oracle internal website under something like "employee involuntary separation agreement". The package was 4 weeks for the 1st year, plus 1 week for every year after that. It is capped at 26 weeks.