I got my VSP offer this morning and am considering it. I'm trying to figure out what I would get if I don't accept it, and get laid off instead. Does anyone know what the typical severance is during these rounds of layoffs? I'd like to compare it to my VSP offer.
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@a5 is there written documentation somewhere that outlines the severance policy? Have been looking all morning unable to find it
I've been with Centene for 10 years and my offer seems to be approximately equivalent to 7.5 months salary. I'm still not sure whether to take it or not, but I dd apply to participate just in case there's more volunteers than expected and it becomes "first come, first serve". We have till July 2 to make the final decision.
The estimated last day of work is Sept 1, and Sept is a good time to find a new job, rather than possibly being laid off in, say, November.
Does anyone know if the buyout is structured to allow for unemployment benefits (as if it were a regular layoff)?
There is legal precedent that layoff amounts must meet or exceed voluntary exit offers in many states.
@OP looks like the basic severance is 2 weeks for every year worked. This VSP offer is enhance by adding the Enhanced Severance of 4 additional weeks plus Severance in lieu of Annual Bonus. So they sweetened it up a bit. Depending on your salary you’re getting a few thousand more if you take this offer.
@a4 How long have you been with Centene? What is your position?
@a5 this is what I have heard. I have seen manager level get more, possibly because they get stock options and bonuses? I swear I have read we have a policy around severance but never a policy number referenced.
So much culture!
@OP what’s the offer
Severance used to be 2 weeks pay for every year of work but I’m not sure if it’s still the same.
My exact question also. My VSP package is a nice amount, over 30K but if I wait it out how much will that be? I wonder why this isn’t apart of the FAQ page of the documents.
Is VSP based on job title? Who's getting what offer?
Same! I'm thinking it would be significantly lower.
@OP what was your VSP severance