My wife's store is one of those on the list of closings. Happy New Year to us, I guess. Does anybody know what kind of severance Macy's provides?
I'm sorry if this is a repeat question, I've scrolled down through the page and couldn't fine any threads that were mentioning severance.
Only executives get the 13 week minimum. Hourly associates get the one week for each completed year. A full print out of the severance and also a Q&A will be given to each person. Are you close to another store and could she possibly move to another location?
HR will speak with them through the next few days. They will first try to see if they wish to fill jobs at nearby stores. They get priority over holiday hires. Jobs in the area will be frozen for them. HR will layout the severance pay opportunity. Best of luck!
She's been with Macy's for close to 12 years, and no, not an executive. Thanks all for your answers!
I believe it depends on her position. Is she an executive? Also length of service.
1 week of pay per year of service. You get a minimum of 13 weeks though if you have been with the company less than 13 years. You also get company paid insurance for 3 months. The payout is by check mailed to your house and it's taxed nasty at like 30%
Severance packages are based on how long you have worked for the comp. Typically min 13 Weeks with 3 Month of cobra insurance. If offered alternative position/displaced and you turn down the job the company no longer offers the package.
Length of severance package dictated when you may return to the company as well.
I am in corp IT so dont have info on stores severance... not sure if this helps but you may want to do a google search similar to this (looks for words severance and macy's and searches thelayoff.com only):
https://www.google.com/search?q=macy's+severance+site:thelayoff.com