I have received a severance agreement after my layoff from Citi. If I am offered a job at Citi in a different department but turn down the job, will I lose the severance?
I don't see this question addressed in the agreement.
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@a2 but to clarify what was mentioned above as hearing multiple things. If during your 60 day notice period, you are offered a Citi Job and decline the job offer, do you still get your remaining Notice period pay + Severance? Seeing answers that say they stop the notice pay immediately and no severance, and then hearing others say you still get your notice + severance.
Speaking from my own experience. I was laid off in 2024. Within the notice period I received an internal job offer. When HR made me the offer they also informed me that the severance will not be honored any more. So if I declined the job I wouldn’t get the severance anymore.
Hope this helps.
Also, if you find employment with Citi before the end of your notice period, your notice period will end, and you will not be paid severance.
If you find employment with Citi after your termination date and after severance has been paid, you will need to repay a prorated portion of the severance amount.
@w8
Reading comprehension is very important for life in general. This is why Citi is in the Sh!tHole it's in because Citi can only attract and retain illiterate employees compared to its envied competitors.
"qualifying job" means working for Citi again as a Rehire WITHIN the Notice Or Severance Period, OR for a Vendor/Temp Agency/Consultant (PwC, E&Y, Bain, McKinsey, etc.) where the employee will be working For Citi as a consultant, temporary/contract employee OR their work is supervised by a Citi employee.
This is what the Separation Agreement states, albeit summarized above.
The Sep Agreement also states that the Laidoff employee is permitted to work for Temp/Consultant Agencies that Citi uses (PwC, E&Y, etc.) AND will STILL get their Notice and Severance Money, AS LONG AS THE EMPLOYEES' WORK IS NOT AS DESCRIBED ABOVE.
So in other words, if you get a Contractor Job at PwC, but do contractor work for Goldman Sachs, You'll STILL Get your Citi Notice and Severance Money.
If you get a Contractor Job at PwC, do work FOR PwC, But are Supervised by or Your work is supervised by a Citi Employee, during your Notice or Severance Period, you will forfeit the remainder/balance of your Notice or Severance money.
says, “you are not eligible for benefits under the plan if” … “prior to or during the notice period or separation pay period, you’re offered (regardless of whether you accept) a qualifying job.”
I read the full separation plan recently and it does address this. If you are offered a job within Citi during the 60 day non working period and decline, then you do not get your severance.
I’d have an employment lawyer read the agreement and advise.
@ax assuming it’s an at will state, no - Citi can’t revoke your severance payment because you decided not to take an alternative. They eliminated the role you’re in, they’re paying you for the elimination of that role.
@ax @op You can turn down an offer and it will not affect your severance, I believe.
@a2 OP did NOT ask about being rehired, they asked what happens if they turn down a Citi job offer. It's a valid question because Citi could say we gave you a chance at another job and you turned it down so no severance.
@a5 You will Not lose the severance if you do NOT accept the Citi job/rehire.
It's the opposite. if your ACCEPT the Citi job/rehire, you WILL lose a portion of the severance money IF you're still within the severance time period.
And so in the previous example, if you're past the 6 months severance time period, say month 7, and are rehired by Citi, you do Not need to pay back the severance money.
Perhaps I didn't explain the question clearly.
I am asking that if I am OFFERED a job at Citi but do NOT accept the job at Citi, will I lose the severance?
Did you get an email notification a few days after your network access was cutoff ?
It was states in that notification. If you're rehired @Citi during the severance period, you need to return a prorated portion of your severance money.
Why ?? Because Severance money is given in a lump sum, not periodically.
Example: You're getting 6 months severance money. After your non-working paid notice period ends, severanxe money kicks in and you'll get the 6 months severance money (minus taxes etc of course) in one lump sum.
If you get rehired after x-#months < 6 months, you need to return the unused portion of severance money.
Say you got rehired after 3 months. You need to return the remaining 3 months severance money back to Citi.