#severance

How many weeks/months did you receive? Is it beyond the 2 month payroll period?

This leadership under Mike is just moving deck chairs on the titanic!

• expense out (severance)
• expense in (all the new SVP's making millions each from JPM, know nothing about payments, bank software or anything other than consumer and commercial banking.
  Lots of luck, stock price down another 8%, I guess is improvement over the last few quarters with stock down 20-40%.

If anyone is comfortable sharing.

Tenneco will close its Smithville, Tennessee plant by mid-2027. This closure affects 146 employees at the Grizzly Lane facility. Another Tenneco plant on East Broad Street will remain open. The decision is part of global restructuring due to auto industry challenges. Tenneco offers assistance programs, career services, and severance packages.

Smithville, Tennessee

https://www.herald-citizen.com/smithville/news/local/tenneco-plant-closing/article_b3c33697-df06-55bd-80a5-bf1ff00d60dc.html

https://www.miaminewtimes.com/news/i-have-nothing-spirit-employees-turn-to-gofundme-after-mass-layoffs-40546638/

One of my teammates is on one right now, and he knows he’s as good as gone, with nothing to show for it. At least with a layoff, you get severance.

The Q1 2026 results strengthen the case that leadership will keep pushing productivity, automation, AI, severance, consolidation and expense control. The company is not in existential danger based on results but the numbers are weak enough that employees should assume continued restructuring risk. I wouldn't interpret this as a reason to panic yet.

Has anyone got their severance payment or know when we can expect it? Single parent and trying to budget accordingly

As many have heard the finance transformation will affect many of the jobs for the Houston finance team. That being said, are any of you all willing to share past severance agreements/packages that Enbridge has offered during past restructuring or layoffs? How many weeks per service year or minimum weeks? Will the bonus be prorated?

They will refuse to give severance. Will rather just PIP for some lies. Watch out!

Has anyone had experience with using COBRA when severance ends? From what I read, there is a gap between the last official date and getting COBRA information, and you get retroactive coverage once you pay your premium.

Please let me know your experience.
Thanks!

Yes, State Farm su-ks but half of complaining about “woke” and “customers” don’t even know what you’re complaining about. It’s greed at the of the day, they’re trying to make this place as miserable as they legally can to get people to quit without severance or even the voluntary exit offers. RTO su-ks, i don’t care how much you loved your office back in 1980, times have changes and there is literally nothing that we do at home that can’t be done from office (other than wasting hours of our life in traffic and pointless dribble chatter with coworkers), “customers” are the last thing on the executives mind, much less mine, they can read what they sign up for before they complain. Yes, I am actively looking for other places to work and I can’t wait to leave.

This varies by state, but in my state (Ohio) severance pay is deductible income that will reduce unemployment benefits 1:1. Does anyone know if it's possible to negotiate having the severance assigned entirely to the week of separation so that we can begin collecting unemployment right away?

Cognizant intends to reduce its workforce in 2026. The IT services company may eliminate over 4,000 positions globally. This action is tied to its $320 million "Project Leap" restructuring plan. The company is allocating $270 million for employee-related costs. These costs include severance pay for affected workers.

https://stlawyers.ca/blog-news/cognizant-job-cuts-may-2026/

Stanley Black & Decker is closing its New Britain manufacturing plant. Approximately 287 employees will be laid off. The plant produced tape measures no longer in high demand. Layoffs are expected to occur between Monday and May 18. The company offers support including severance and job placement.

New Britain, Connecticut

https://www.wtnh.com/news/connecticut/hartford/hundreds-of-layoffs-to-begin-at-stanley-black-deckers-new-britain-plant/amp/

Looks like I’m done. Severance is as least good still.

Godspeed lake Mary.

They want us to quit? Guess what, you’re stuck with me until you lay me off 🤣

1- Systemic Compensation Stagnation: A complete freeze on base salary increases for the majority of the workforce spanning the last 5–6 years, regardless of inflation or performance.

2- The "Recycled Equity" Strategy: While ICs receive small bonuses, managers and directors are tied to RSUs with 4-year vesting schedules. These serve as a "retention carrot" that disappears instantly upon layoff—allowing the company to claw back earned equity and "recycle" it to lure new hires into the same cycle.

3 - The 2025 Manager Purge (FY26 Q1): A calculated wave of terminations where managers were directed to lay off their own teams, only to be terminated themselves immediately afterward.

4- The 6:00 AM Termination Protocol: Highly impersonal exit procedures, with U.S. and Canadian staff receiving automated emails at dawn, accompanied by severance packages described by employees as "garbage" and "sub-par."

5 - Efficiency Paradox: A relentless "do more with less" mandate enforced through perpetual hiring freezes. Despite corporate messaging, internal AI tools provide minimal functional support to offset the loss of headcount.

6 - The Psychological Toll: A workplace culture defined by "survivor’s guilt" and low morale as remaining teammates are forced to absorb the workloads of their terminated colleagues.

Sunday again and I realize I hate this place even more than I did countless past Sunday's. It's getting worse each and every day, I'm sooo embarrassed to be associated with this place and looking for another job. I will take their money as long as I can but have to leave. If SF didn't have sooo much money in the bank it would have went out of business years ago. I do not believe SF is en a legitimate business anymore. They Executives are so detached for any realm of reality it is mind numbing. Everything they do is some kind of cut rate mind f-ck or woke delusional fantasy. Sad thing is it will get worse! Please offer everyone some type of severance, leave it to the bootlickers, woke crowd and Kool Aid drinkers..... Enough is enough....

• I posted this as a response, but figured it would be more useful to some if it was a standalone thread. *

  Come one, everybody! Don't be so gullible.

  CK didn't say there wouldn't be layoffs in our recent all-hands call, he just said they aren't focusing on that right now. It's an incredibly careful response the comms team has prepared ahead of time for the topic.

• What does 'focus on that right now' even mean? Focus on it later (this month? next month?) He might focus on them next week if the market reacts badly to his strategy?
  P23 and P24 were VERY expensive once you calculate out the VERP and severance packages of thousands of senior skilled colleagues with decades of time at the company. They'll want to find a cheaper approach to 'brushing their teeth' going forward. (Clue: "Our new Performance Management" where we overload you with work, give you impossible targets to hit, then later on use missing them as the reason to fire you for performance reasons with no payout).

• After the morale cratering debale that was how they handled P23 and P24, they'll want a quieter approach to future layoffs. They don't even have to tell you. Just cut a team of 15 here, 25, there, 55 here, 30 there... no need to announce it, and if anyone finds out use the bogus 'location strategy' explanation (you know, the BS one where a team of 30 can get cut because that office is not in their strategy, yet for other colleagues in that same location all is fine).

• The next layoffs will be cheaper and done as sneakily as possible - manufactured performance problems for expensive workers followed by unattainable PIPs, and voila.
  Let's not be gullible. "not focusing on that right now" absolutely DOESN'T mean there will be no layoffs in executive speak, just like "there aren't any plans currently" or "we want to keep our best people". They're empty non-answer phrases that give nothing away.

SAP couldn't give 2 ships about you as a person. Do what's best for you. If that means stay and try to put up with the political drama and backstabbing, good for you - best of luck to you. But if not, don't be blindsided. Tidy up that CV and start paying attention to what's out there. I certainly will be.

Anyone confirm what the package looks like this time?

What are they offering? Months per year of service etc..

Any cap?

Coming soon to an office near you: widespread layoffs dressed up as “performance decisions.” Don’t expect generous severance packages or smooth exits. Companies are increasingly looking for ways to avoid those costs altogether. Instead, they’ll build a case against you.
Return-to-office mandates, shifting performance metrics, evolving skill requirements, incomplete trainings ... Anything &everything can become the justification. The bar will keep moving, and the reasons will keep changing. What used to be acceptable yesterday may suddenly be labeled inadequate tomorrow.

This isn’t always about individual performance and it’s often about reducing headcount while minimizing financial and legal obligations. The strategy is simple: create enough documented “cause” to make departures look justified, even when the real motive is cost-cutting.

In this environment, job security isn’t just about doing your work well. It’s about staying alert to how the rules are being rewritten around you.

It's just a matter of time my friends.

Anyone notice that all the employees who have completed 40 years of service at Citibank are being let go as a long service reward?

Remember to double check/adjust your taxes if the severance package you received will push you beyond what you would have earned this year, or you will run the chance of having a bigger than expected liability at tax time next year.

Hello, so I was Pipped beginning of march from a bad performance review, (4/4/4/3)
And it took them till march to do so. Then I was told they don’t have a notice period for how long

Right now I’m on medical leave, I’m thinking of asking for a separation package? Is this a good move? I plan on framing it very professionally and want to know if since I got such a poor review and a PIP if severance is off the table?

I’m based in Tampa and a AVP

Right now, fear is everywhere at Oracle. For a long time, the company’s raises and promotions have been pretty bad compared to places like Google or Meta. But despite the lower pay, so many people stayed. They were the real backbone of the company’s success, and they stuck around because they needed the stability for their visas, their families, or their health. They pushed through all the office politics and the lack of growth, thinking that their loyalty would eventually count for something.

But Oracle just proved those people wrong. The company treated its most loyal workers like they didn't matter. When the layoffs happened, their severance was tiny because their salaries had been kept so low for years. On top of that, they lost their stocks and were told they couldn't be rehired. It’s devastating to see people who gave everything to the company be left with no voice and no support.

Now, the "survivors" who are still there are realizing the same thing could happen to them. In this new AI era, you feel like just a name and a number on a screen. With everything moving to Nashville, there's this constant worry that your laptop could be shut off at any second. Honestly, no one is motivated anymore. We don't know when it is our turn. The whole company feels like it's in mourning, with everyone just doing the bare minimum to get by because the trust is completely gone.

For layoffs

At least four IT Infrastructure peeps were terminated without severance pay this week following an “investigation” for “policy violations”. Witch hunt in progress. Don’t give them any excuses.

Doing CAPs to manage people out and avoid paying severance has been happening a lot for at least a couple of years.

We are hearing about it more because it works and they are doing it more. The company saves money by pushing out long-term, expensive employees, especially those seen as too vocal, ethical, or outside the in-crowd.

Expect more of this. Most people do not have the money, time, or stability to fight it legally, and many assume it cannot happen to them until it does.

I'm not. I've been too chicken to quit on my own, so if they do it for me, and I get severance, even better.

If you are on long-term disability for two years, it looks like Wells will let you go. HR said no severance if you are let go for this. Anyone have any experience with receiving severance after being let go due to not returning to work due to disability? HR said my other option is to go on unpaid job search leave. I can't do unpaid. I have bills.

Has anyone taken the severance payout in one lump sum? If so what does it look like for taxes being taken? Its been said they tax that at a much higher rate than if you did just the regular two week pay.

I was laid off and am told I won’t get the severance doc for over a month.

Ummm…. that makes no sense. So I don’t know if I’m allowed to look for (and take) a job right now or not? Do I have to wait until my “last paycheck” even though I’m literally not an employee.

Surely someone knows a definitive answer to this and/or has a severance doc to read from to find out.

Sitting on my hands waiting until my last paycheck is asinine in my financial situation.

I don’t want to lose my severance but nike has stated they don’t want me working their either so….

For anyone receiving severance and has seen you paystub. Is it being reported as salary continuation connected to specific date range each two weeks or no specific dates shown on your paystubs.

SLF = ~$23M in 2025
The toohster a cool ~$5M.

I hope the board owns up and slashes their salaries equal percentages to stock drop - ~30 percent following the stock drop since Jan 1. Least they can do.

Actually when they sell company off hopefully they don’t get any severance either.

Cognizant announced Project Leap, a restructuring program costing up to $320 million. The company allocated up to $270 million for employee-related expenses, including severance. This plan aims to realign operations for an AI-driven environment. Cognizant expects to achieve $200 million to $300 million in savings by 2026. The company also plans to hire over 20,000 fresh graduates in 2026.

https://www.peoplematters.in/news/business/cognizant-sets-aside-dollar270-million-for-layoffs-while-launching-global-reset-plan-49482

I was RIF’d in September... The severnce pay ended up being a real blessing. I was able to take some time off... I finished some projects around the house, and enjoy some much-needed naps. I knew I would eventually need to find another job, and like many others, the search was brutal. Fortunately, I landed a great role in the same field... and I love it (so far).

Now I have more energy, and the constant pressure I felt while working at Oracle is behind me. I hope it last. It's a privately owned company and the owner is chill and not greedy.

I was VERY MUCH proud to work for Oracle and I’m grateful for the many years I spent there, but it feels refreshing to be valued again. The company changed, for the worse...

If you are looking outside, good luck - there are still places that did not go bananas.