For each full year of service you get one week severance pay calculated of your current salary. It is paid as a lump sum after the release agreement has been signed and only then, usually 7 days after the signed agreement has been received in the next pay period. Additionally vacation days for the time up to the release are paid out. If you were eligible for a bonus in 2014, this will be paid out as well in March. Of course everything will be taxed. You get as well 3 months of health care, then you are eligible for COBRA which is very expensive. So getting an insurance via your spouse or healthcare.gov is probably a less expensive alternative. I think the best information in my severance package is a fully paid job coach including job search help for 2 months. Best of luck to everyone in this tough times.
11 replies (most recent on top)
Chintzy severance. Should be 2 weeks for every year plus health insurance. The greed runs deep here!
These posts are true. It's not what you know, its whos butt you kiss. Hard work and seniority are not important there.
It has really changed in the past few years. Being laid off really was a relief. Glad it's over.
I’m been working near to 9yrs with the company and I’m not agree with the laid off that I got , some supervisor and manager have preferences to relevant employees to new position and discrimination to others and don’t have the correct ethic on their functions ,
Blow the whistle on any BHI environmental law breaches, fcpa breaches, discrimination, bribery, product liability issues etc. You will end up with a very nice severance package in exchange for shutting up.
that's sad
Worst company run by the worst women executives. They are all big frauds, with no rig experience and were given their jobs based on the company claiming to be diverse at the expense of better male employees. Poorest management ever in the dozen or so companies worked for over the last 40 years.
No severance, no medical, and screwed on vacation pay. I only have two words for Baker...
Baker screws employees who have lots of vacation through years of service to the co. by only paying 1/12th of their vacation per month when they are layed off. This really hurts those who are layed off early in the year!
Minimum is 4 weeks. Vacation payout is pro-rated.
For each full year of service you get one week severance pay based on your current salary, but only to a maximum of 26 weeks (26 years)even if your years of service are more than 26 years. The rest of the post by 66253 is correct from what I was told-
Is this the same as during the previous layoffs?