Thread regarding CVS layoffs

Severance is not a lump sum. it's your normal paycheck but they do not take out insurance and 401K, hsa fsa etc, They do take taxes out but thats it. How long you will get those checks is dependent on how long you'e been there and your pay grade

To receive severance you have to abide by the terms of the agreement they send you. You get a bunch of documents to your personal email Read those carefully. The amount you get is based off years served and pay grade. The longer you've been there the longer the severance. Last year alot of people got almost a year of severance pay. You cannot file unemployment while on severance. You'll have the option of cobra. They will pay your PTO out in a lump sum. figure out what to do with your 401k now. It's easier to look at this stuff now before youre an emotional wreck after the layoff. I just stopped my 401k contributions. If i don't get laid off i'll restart them. I'm using this warning time to prep,

Anyone know if those employees acquired from Aetna will be given credit for the years of service they worked prior to the acquisition? My “service date” says 2018, but I was hired in 2008 long before CVS bought Aetna.

To answer a few questions:
Your severance will not be a single lumpsum payment (wouldn't that be nice!). It's been a while since I've read the whole document but it's either weekly or biweekly.

I also believe that it states that the severance is in place of unemployment. You can file for unemployment when the severance has run out, but you won't get the severance pay on top of the unemployment. Can someone else confirm this?

@1seh+1nVnjUs4 Go to my HR and open HR Self Service. Click my Personal Information tab, scroll down to my Career Summary. Expand Current Job Data. You should see your company, department, location, cost center, job code, and grade.

Your service date is visible in this same area as well. It's under Employment Area, a few sections up from Current Job Data.

Folks I am curious about how the CVS severance works. Will it be one lumpsum payment of 13 weeks(or 20+ weeks) or will be biweekly like our regular paycheck. what if I get a job elsewhere within a month, do I need to repay.

For anyone else curious, I just found my pay grade in Heartbeat by going to myHR, HR self Service, myPersonal Information, Personal Details, Current Job Data.

Where do I find my individual pay grade for my role? I’ve found the PDF with Tier 1, 2, 3 and 4, and am trying to figure out where I can see my pay grade. I checked recent pay check, didn’t see it.

Should've gotten an exemption @@1wwe+1nVnjUs4 no matter how messed up that mandate was, many exemptions were given.

Not sure how I can be on the chopping block if I quit when they made employees get the experimental jab. Such a brave corporate simp.

Go to Colleague Zone, search severance, it's the first result that comes up. Open the PDF and scroll to page 9 of 9. There's your pay chart.

Search colleague zone for severance and the policy will come up there

What do you search for? I type in severance and a million articles show up

Will the Specialty Pharmacies see layoffs?

If I were in a position to get 13 weeks in severance, I’d happily volunteer myself and leave my place for someone else who really needs this job. With this low morale, I just feel even more disappointed and want out.

To the person that keeps delegating others as “Karen’s burner” go troll somewhere else. Hopefully it’s you who’s on the chopping block. With that attitude you probably bring your teams morale down.

Also note that if you have been with cvs for less than 90 days, you don't qualify for Severance (and aren't protected under WARN act either).

New hires are screwed.

“ Most of my colleagues will see a 13 week severance based on company policy. I hope this helps.”

Here’s Karen’s burner.