Saw a comment earlier
"Their severance package s---s it was one weeks pay for every year ur there and if u find a job with in 30 days of being laid off you have to give that severance pay back"
6 replies (most recent on top)
The severance pay is not stated correctly here. It is a more complicated calculation than x number of weeks per x number of years of service. My severance equates to less than a week per year of service.
Some are confused with severance pay vs. transitional cost pay. They think that the amount stated in the letter as transitional cost pay is what they will receive as severance pay. But the amount does not even equal to the one week/year. Did they clarified this to the laid off employees other than handling them their packet?
Anyone know what the transition lump sum actually is?
The person who wrote "if u find a job with in 30 days of being laid off you have to give that severance pay back" is misinformed. You need to give the severance pay back if you got an new offer in these 30 days from Molina that is within 10% of your current pay, regardless of acceptance or not.
I'll suggest contacting HR if you need any other clarifications with it. They were pretty quick in answering my questions.
Managers, AVP and VPs that are layed off are receiving the following
-
Wage Continuation (They stay on payroll for 30-60 days for knowledge transfer)
-
Severance Pay
-
Transitional Costs pay:
My severance was a months pay for each year and nobody gave me ANY paperwork sayin I had to give it back.. even if it did, I wouldn't because F*** MOLINA HEALTHCARE!