Is that something that could happen? My mind keeps coming up with all the worst possible scenarios, and that is the one I cannot stop thinking about right now. It actually makes a bit of sense if the goal is to cut costs, since cutting payouts for those leaving would fit that goal. Please, someone tell me this has never happened.
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@ez VP and up would likely have employment contracts with golden parachutes - unavailable to other TMs
@cd 18 months, she was a VP and has worked there for 20 years.
@cd 18 months would only be for L9+
@bt 18 months? are you sure you don't mean 18 weeks?
@OP I do not think so. The goal is to cut costs, but not there. My mom's friend and direct report got laid off this tuesday and is getting 18 months of severance, and I assume their salary is pretty high.
So no, I do not think you have to worry about them cutting your severence, as they are not cutting it where it would make a bigger difference.
@a8 what level were you
@a9 it was so frustrating! I also hated the waiting for the severance payment as well because it had that approval period so thankfully I wasn't paycheck to paycheck considering I had to wait like 3 weeks with no pay!
@a8 mine too and then some extra money for cobra coverage. Problem is it's given in a lump sum so it definitely doesn't equal the weeks they say it does. I can't get unemployment until my weeks run out even though that doesn't actually add up that way. Suuuuucks
@a7 mine was 6 weeks plus one week for each year of service.
What is the severance package like?
I dont think so. Target is so concerned with reputational risk that I could see touching severance as a big no go. Also for what it's worth I was laid off in March and still got mine.