Xerox is intentionally trying to limit its unemployment insurance rate exposure. The more people who collect U I...the higher their rates.
7 replies (most recent on top)
The max payout for unemployment is $420 per week. For a 12 week severance payout that would be $5040 extra unemployment dollars that you could collect assuming that you can survive those 30 days without getting that lump sum. Some people may be able to do this others perhaps not depending on if you have enough in savings to get you by.
I had heard that Xerox was deducting State unemployment benefits from the severance payment. Why is everything so complicated and seem underhanded when Icahn’s involved with something.
Will you qualify for unemployment after the 12 weeks severance ends?
This seems really important for those of us not-yet-laid-off to know ahead of time. Thank you.
Key point below from that article. Would one be eligible after 12 weeks? Can you delay signing for 30 days?
"In the event the employer structures the severance payment as a lump sum, the New York State Department of Labor will employ a formula (using the former employee’s prior actual or average weekly pay) to determine the number of weeks of ineligibility for unemployment insurance benefits."
New York State law. You needed to wait and not sign to receive severance right away. Needed to ensure didn’t get the payment for at least 30 days after last day at work. If you didn’t get the lump sum prior to 30 days after last day at work; you should challenge the decision. See info in link https://www.laboremploymentlawblog.com/2014/01/articles/new-york-employment-legislation/new-york-unemployment-benefits-no-longer-available-to-former-employees-receiving-severance/