Hi, can anyone that has actually received severance give the details? I've heard you officially stay on the payroll for 60 days, and then receive 2 weeks for every year of employment. The 2 weeks are in the severance plan, but nowhere does it mention the 60 days. Can someone confirm this? How does it work? Thanks!
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Is health care provided for retirees and/or persons who take advantage of a severance packet?
Does anyone know if you are eligible to received a severance packet if you have an "inconsistent" job performance rating?
Also, is Allstate going to do a reduction in force for claim employees in 2020?
Appreciate the information.
The policy has always been 2 weeks per years of service, to a max of 52 weeks. Always. There is no takeaway or reduction in severance.
I am (was) an Allstate employee in Northbrook who was given a severance notice this past August (2019). Here's the deal: 30 days on payroll (NOT 60). 2 weeks pay per year of service.
I agree with the last poster. Unfortunately, over my career I was involved in several RIF’s as a mid level manager. First the selection of employees had multiple layers of checks and balances (with HR). Second, we NEVER had a view into individual employee’s hire date, and could have cared less about a couple of weeks severance, one way or the other. If anything, we tried to get the impacted employees as much $ as possible.
If you believe a leader picked a severance date (most likely for a number of employees, because the termination date is generally ONE date, not different dates for a group of impacted employees) to screw you out of two weeks of severance, you’re delusional and paranoid. First, that date is not selected by a front line leader. At the level those dates are established, no one has a view, nor do they care about an individual ‘s employment date.
Be bitter all you want, but leaders have better things to think about than screwing you out of two weeks of severance.
Calling BS on Post ID: @XH39nxw-kjex! 60 day notice, 2 weeks for every year worked, and IRONICALLY A COUPLE DAYS SHORT OF ANNIVERSARY DATE, so lost weeks of severance! Close to retirement, but not close enough and profession is a specialty so not many jobs offered, not to mention the AGE. Lost purpose and passion in life....THANKS ALLSTATE!
It also depends when the layoff occurs. The company likes to pay out the severance in the current year if at all possible. I know folks that were laid off in December got their severance checks within a week or so. Also bear in mind although taxes are withheld, it does count as income for the year in which its paid. The folks that got laid off in December had severance on top of a whole years pay and in some cases the withholding wasnt enough and they owed some at tax time. Best to meet with or talk to a tax professional who can advise on your situation.
We were told the day of the layoff that we were on the book for sixty days more but told to stay home and if you did anything to get you fired in those sixty days no severance.
Allstate has 60 days to pay out on the severance package after your last day worked. I know several people who were laid off in 2017 and they all got their severance money around 50-55 days after their last day worked.
Calling BS on the last post. As a part of management, I was involved in several RIF (Reduction in Force) actions, and we NEVER had a view into anniversary dates. Even if we did, we would have no incentive to save company severance money (without getting into detail, it’s a “Restructuring” write down). Leaders have zero incentive to do something like this. They are responsible for getting the work that’s left behind done. That’s it. They could care less about an extra year of severance paid out by corporate. BS.
Regarding the 2 weeks for every year...What they've been doing is laying people off about 2 DAYS prior to your anniversary date, so they are not required to pay you for that year! Example: 12 years and 363 days, you get paid for 12 years of service, not 13 years of service...
You will get 60 days notice. In some cases you have work those days. In othres, you do not have to show up.
This is why there is a Human Resource department. Any reason why you, or anyone wouldn’t ask them ?
I don't think the 60 days is part of it. The offices where I worked and were closed they gave you the 2 weeks for every year up to one year of severance pay. They did let us know about 50 to 60 days ahead of time if that's what you mean. But you didn't stay on the payroll after it closed. They just let you know when the least day would be and you signed and got the severance.
I can’t tell you, but have you checked with Human Resources ?