I got the picture how it looks in a physical sense, getting called up to the conference room, escorted off the premises...etc, but What I would like to know is what does a layoff look like in terms of the paperwork? Do you sign it right away or do they e-mail it to you? Is it all pretty standard or do you have to be careful? Do I need to consult a lawyer before signing?
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In past big layoffs I’ve been given a list of positions affected and the ages of those who got sh--canned. Might be a dept of labor thing so they can show they aren’t laying off too many old people.
You probably can’t receive unemployment till your severance runs out. Be wary when you start unemployment. It’s taxed (hard to believe but true). Anyway, employers pay half of your FICA, and you’ll have to pay all of it. Could be a big surprise at tax time.
You aren't pressured to sign, but you'll want to decide quickly, since you won't get any severance/benefits until you do. I'd take it home, read it, and get it back to them (postage paid envelope) within a few days. I thought it was pretty mild compared to some I've seen in the past and will have no trouble signing it.
Got laid off today. In my case, because of my personal situation, a labor attorney will look into some details contradictory in the package they offered to me. I am close to 60. (WARN)
We will see how GM counsel swim when they make mistakes.
I was laid-off today. They gave me 50 pages of information. You aren’t pressured to sign. You are given 45 days to think it over. I was allowed to keep my phone until the end of the month. If I want, I can port the phone number over to my own plan, if I want. I was given the choice of boxing up my belongings myself, or they would do it and meet me in the parking lot, or mail it to me. I was less nervous than the director who asked me into the conference room. I was given the option to walk around and say goodbyes. My age is 60.
Normally they will give you a separation package outlining any severance offers which will contingent on your signing away your rights to litigate, or to work for the company again. You will usually be given 30 days to accept this offer, or you can decide to go to a lawyer, but they will have their ducks in a row.
Any paperwork that you have to sign right away will probably concern disclosure statements that the have informed you of your rights and what is owed to you and that you are acknowledging this.
Regardless, sigh up for unemployment as soon as you can as again, you will normally have to wait two weeks before the first payment. taking severance won't effect your unemployment.
I kind of thought they would force you to sign right at the time of separation if you want the severance, bonus, etc.
It's pretty standard. They summarize and give you a package to sign and mail in.
Never sign it right away. Everyone has different circumstances, so you may want to seek legal consultation.