Thread regarding St. Jude Medical Inc. layoffs

Severance Packages (Sylmar)

Anyone has more info? I head you get around 24 months of pay? Any truth in this, or is it too good to be true?

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Post ID: @OP+vVTwa3Z

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To clarify, not really one month for every year. The severance package gives you one month for every year, based upon two pay periods per month, some months have three, but, with the severance you only get two. If someone worked over 12 years, the max payout would be the same as 11 months due to only two pay periods per month. The max severance is 12 months even if you worked over 20 years. The company is targeting long time employees, looking to lighten the payroll and reduce long time dedicated employees. Times are changing.

Post ID: @cGuF+vVTwa3Z

1 month for every year of service

Post ID: @nW2+vVTwa3Z

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