At least there was severance provided. So many employees this year got fired for cause (so no benefits no severance not eligible for unemployment). Does the company su-k for this? Certainly. Will they repost our same jobs for 80% less in 6 months. 💯. Take your severance and run. This bank is a sinking ship.
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@d3 not true.
@f0 non-bank gets full cobra or 80% discount?
@bz healthcare.gov lowkey blows now. Cobra is expensive, especially if your family relies on your healthcare. But also, job market is horrible right now and it could be 9-12 months before you land a job (not joking, that’s the average right now). So weigh the pros and cons for your situation
@dk get 60 days then you get access to cobra. Non bank pays full cobra. Enterprise/ non-bank gets an 80% discount on cobra
Full benefits and pay for 60 days…
So being that people are being laid off very near the end of the month, does their health insurance expire in just a couple days? Or does the health insurance continue for the 60 days they are not working but looking for an internal transfer?
@db this is how I understand it. My biggest worry is the insurance portion, when do they still cover you and when do stop? I was affected but being in the bank I want to be prepared and make sure my family has coverage.
That is incorrect. It’s a 60 day non working then 6 months severance.
@a6 the 2 months paid while searching is actually part of the severance- so if they give you a six month severance then at the end of the 2 months you have to find another role you will be paid out for 4 months. So yes immediately stop working because you are on severance time.
@bz so is that the month you were informed of the impact or the last day of the 60 days you have to try and find a job internally?
@b1 Your medical insurance is good through the last day of the month in which you’re laid off. After that you have to pay crazy high rates to keep it (COBRA) for a few more months, if you want to keep it. Most don’t. Check out healthcare.gov
@aj oh look. A cocky bank employee. Who would have guessed that? Please, tell us more about how much money you make us when your lack of basic compliance has been weighing us down for years.
Does anyone know how long you can keep your insurance for once laid off?
@aj I make $150k a year before taxes. After taxes I make $130k. My bills are $170k a year. Every year I keep selling stuff around my house to make up the difference.
…my name is USAA
@aj what’s the rest of the equation for any business to determine their earnings after tax (net income)?
Expenses? The very thing they keep cutting to show some hint at being in the green after some funny accounting tricks Moran introduced.
@a2 mass layoff today from Directors to Analyst! 60 days pay with no work. Find out about severance in 48hrs. Was told to look for internal opportunities but all opportunities are high and not under the same umbrella
@a1 the bank is a sinking ship? Hardly. We’ve been saying that for over 12 years now. Still making billions in PTI.
Nah, USAA will still be around way after we’re all gone. Calling it a sinking ship is what we say to make ourselves feel better.
The game is rigged.
It is so weird. The people who normally work hard just kept working hard today and the ones who don't like picking up the phone don't have to pick up the phone anymore. Crazy how it works :)
@a2 there’s a multi week course for transitioning. They will hype you up for getting an internal job. Once upon a time like 80% of people laid off were able to get job placement internally within 60 days. That’s no longer the case, it’s closer to like 10% now. It’s so low now they don’t even track it as a success metric for HR.
60 days no work pay, 6 months severence if you cant fina a job
@a1 you’re right. The bank is just giving FASG vibes right now.
anyone laid off today, what are the terms?
Did they tell you to apply internal jobs?
@OP “This bank is a sinking ship.” - applies to the entire company too :-)