I would love to take a severance package and run. Half-way through sealing a deal in another workplace, so I’m wondering if I’ll luck out and be able to leave this horrid place in style.
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Have heard Compliance (specifically Shared Services). Would think ECORT would finally be hit as well given how long they’ve been overstaffed.
@4tqs+1tKUguDO, any additional details for ERC cuts?
@3abj+1tKUguDO
That is a pretty good deal, aside from being laid off. I know that other companies are not so generous, as physically starting a new job while you are still technically employed (notice period) cancels the severance offer.
Layoffs as early as mid August (just a couple weeks away) specifically in ERC
Apologies for the typos in my post. Voice to text hates me. lol
I was a part of the last round of layoffs in June. It is true you forfeit it if you accept a position internally or are offered a role that they consider of equivalent value. Doesn’t mean you have to make exactly the same pay. We never could get a straight answer of what equivalent pay was.
You do not forfeit your severance, if you take a position outside of the company. However, it would be prorated to that date. For example, My layoff date was June 7 had I taken a roll on May 1st, that is where they would’ve calculated the severance pay instead of June 7th. Also understand you’re taxed at a bonus like rate. I lost 30% of my severance pay right out the door.
I said in the weekly exit meetings and this was clarified each week basically because somebody would ask it.
Correct, you lose the severance if you are on 60 day notice and accept a position internally. However, keep in mind if you are on a 60 day notice * and you interview for an internal position * and offered the position * and the pay is within the equivalent pay range * and you decline the position, you lose the severance.
It is true - you do not forfeit your severance if you take a position outside of the company. I also know from (recent) firsthand experience.
The severance package is only cancelled IF you take another position at USAA, not if you find employment outside of the company.
Source: First hand experience.
I wish for a layoff on the daily. My boss is very creepily obsessed with a team member he promoted who is d-mber than a box of rocks. Morale on the team is in the gutter and everyone is miserable except for his crush as he keeps her from having to do any work. He believes he is an intimidating person so he takes weirdly strong stances and makes bold statements but no one buys it. It just sounds like someone who is on a short leash at home. Concerns aren’t raised to him anymore because we all know he will find some way to make it our fault and mandate action that is irrelevant and a time su-k. Everyone is hoping for a layoff so we can be rid of this shell of a bank and this clown of a boss.
Which is so strange because if you are laid off snd you are needed in another area, why dont they move you there???
I had no idea - thanks so much for sharing that!
continued... The severance package would be forfeited if you started another position during your notice period.
You would be given a 60-day notice if you were being laid off. If you accept another position (internal or external) the severance package is forfeited.
I’m so done, I can almost taste it
I heard August from a few EMGs but who knows. I had heard July too but that has come and gone.
I’m trying to do the same. It would be awesome if the timing worked out that way!
February 2025 for AML. Little later if the automation investment gets delayed.
September