What happens to the severance package if you are offered a job that is several pay grades under your current pay and you refuse to accept it?
Do you still get the package or does refusing the job automatically disqualifies you from it?
I have a feeling I might be in similar situation soon, so any answer would be appreciated.
Thanks for answers, it's helpful and appreciated.
take the job and don't be concerned about it be a few grades below or lower salary. you are much more marketable on the outside when you are employed. continue to look for something else and then give GE 1 days notice
I was recently laid off by GE. If GE had offered me a role at 80% of my previous salary and it was within 35 miles of my current GE job and I didn't accept it, I would lose severance.
If I was offered a new role by GE prior to my layoff date and accepted it, I would lose severance.
If I was offered a new role by GE after my layoff date and I had accepted weekly severance, I would keep weekly severance earned to date but lose future severance after getting the new GE job.
There is a benefits handbook that explains all of this.
The company doesn't have to pay severance to anyone except where required by law or promised in a legal contract. Accepting a new role eliminates severance. Refusing a new role doesn't affect severance.
That is a question that HR actually gave a straight answer to, several years ago. A job is considered similar if the pay is a set percentage of your current salary. At the time, I believe it was 80%, but I can't swear to the actual number now. Not sure what that translates to in pay grades, but I hope my answer helps.