Anyone have a straight answer on when LP severance will be paid? Some say within 2 weeks, some say overnighted, some say 10 days..... any concrete answers?
5 replies (most recent on top)
Last year the severence package was a Joke
Taxed over 40%
You were required to sign 15 page legal non compete, document also stating you would not gi to EEOC for age discrimination.
Shady stuff...protect yourself
At lowes you are just a number.
According to the LPSM FAQ that I was handed after the conference call on January 4th, severance packets will be mailed out sometime after February 2. You will have 45 days to review, sign and mail back to the legal team and you will receive your severance as a direct deposit (if you already had direct deposit) after their receive the paper work. From those that have received severance in the past, they told me it takes approximately 2 weeks to receive once you send it back in.
Well, if they don't, then they will have a class action lawsuit on their hands. That's why I save every bit of correspondence
E-malis, text messages, etc. The cost of litigation against the company would far outweigh the cost to the severance package. So they'd be wise to cut those checks and keep it moving.
Lucky if you get a Dime.
We were told the severance packages were processed on Jan. 26th and that they will be mailed to our address on file. We'll then receive the severance package paperwork 7-10 days after it was processed on Jan 26th.
But wait there's more, once we receive it in the mail, we will need to read the details, and if we accept the terms of the severance package, we will need to sign it and mail it back in.
Once it’s received, i'm assuming by corporate, then they will process the payment. I have no clue how long the final aspect will take...I've heard rumors we may or may not anticipate receiving the funds until middle or late February. I'm assuming there will be non compete clauses, and other rights they'll want us to waive, if we want to receive the funds...