Anyone have details on what severance packages look like now? Traditionally it's included 2 months pay plus 1 week for every year of tenure, however I'm hearing rumors that it's changing, or has recently changed. Any truth to this?
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@m9, not sure that 2 yrs is standard in Ireland, don't think so. Ireland is still laying off folks. But I got +2 yrs in another EMEA-country. Pretty nice!
@OP So far nothing more than the two months plus 1 week per year. So with 8 years, you get 4 months. months is the max. UNLESS you are in places like Ireland, which has always been (by law) a 2-year severance package! So Ireland people are probably safe, as Dell won't pay that much. As to the PTO, much of Dell is such that you lose all PTO - no payout. Of course some countries likely still get paid. Brazil might be one. Prorated Bonus for the current year is paid at 75% and for right not, 5/12 of that for 5 minths of the FY.
Anyone hearing any changes?
There is a 6 month cap on severance for anyone below director level..
I got laid off in April. The package was as described. I don't know about caps because I only had 5 years. They also pay you a portion of next year's bonus, which is nice I guess.
PTO differs by state. Some states force them to pay out your remaining days, but most don't. Mine did not.
I got two months of health coverage paid by the company, then I had to pay out of pocket. Wasn't cheap either, health insurance is a he-l of a racket.
All in all it's a nice cushion, but doesn't last forever. If you think layoffs are coming, start your job search NOW.
I've heard they'll let you cash out any unused PTO and let you pay the entire health insurance premium for 6 months.
@a4 me too!
except a change and be happy if there is not one
I feel lucky en out if they send me the prepaid shipping label to return my laptop, monitors, phone, and any pens or notebooks from when they would supply pens or netbooks.
Will find out Monday.
I've heard there is a cap up to 6 months. So anyone with 17+ years tenure gets sc--wed. I mean come on; if a person survived all the layoffs during that period; why they gotta sc--w them over. They earned a full severance package.