Laid off today, but don't think i'm getting a fair severance that others are? HELP!

Got laid off today 6/20. Worked for GTO in Charlotte. My severance package listed 1 weeks pay for every year i've worked at the bank (21 years) and no pro-rated bonus. Paid out for 2 weeks remaining vacation too.

I thought BofA subscribed to the 2 weeks for every year? I even spoke with a friend laid off last year and she confirmed the same. The HR rep on the phone just told me to refer to the package i'll get in the mail tomorrow. Couldn't answer my questions.

Any info from anyone else? Are the bank just getting cheap? This is awful.

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Has anybody asked about the WARN act? I was also laid off last week and wondering how many people were let go. I heard it was a big one.

Do the paycheck, you loose your bank health insurance and other benefits if you do lump sum

UPDATE: I received the severance package this morning via fedex courier. It does say 2 weeks vested service for every year I have worked there, so it was a verbal error on the part of the HR rep yesterday. I kind of feel sorry for her, having to do so many yesterday. Thanks everyone for your comments. Now to decide whether to take the lump or continue getting a paycheck.

Post your email address and I’ll send you the written severance policy currently on Flagscape which shows 2 weeks per year. It’s 3 weeks per year for people with 20+ years tenure. You should use legal action to get what you’re entitled to. Everyone should keep a hard copy of the severance policy at home just in case...

That's why June is such a popular month for layoffs, no need to prorate bonus. That typically only happens in the last quarter of the year if you're lucky.

I believe it can change, but I thought 2 weeks/year was the standard. I’m sure it will turn out to be a blessing. Best of luck to you! Keep us posted!

If you have over 20 years it’s 3 weeks for every year capped at 78 weeks.

Don't sign
Scan the document
Put pdf on Google drive
Make link shareable with world
Send link to CNN reporter
Send link to Government

One of the last 2 will help you out. They don't like each other.

thank you, i think it must be a mistake by the HR rep. i'll wait to see what the package says tomorrow. sad today, but maybe this is a blessing?? hard to process right now

Supposed to be two weeks for every year (read the severance policy) with a cap of 52 weeks. Stating that, you should get 42 weeks for 21 years of service. However, I assume whatever you sign in your package will be binding. Perhaps the person that told you one week made a mistake and the package will actually state two weeks. Keep us posted.

Don't sign the agreement. Settle

Thread regarding Bank of America layoffs

Laid off today, but don't think i'm getting a fair severance that others are? HELP!

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