If you’re part of the 2/19 layoffs with a final termination date of April 25, how many weeks severance are you receiving after April 25? The documentation shows minimums for each band level. For example 16 weeks min for Band 4. Have other Band 4s all received 22 weeks or does your number of years at Cigna add on (in pairs of 2 weeks) to the 16 weeks?
Thank you!
@ak VRP ( Voluntary Retirment Program )
@am thanks! Those who accepted the VRP offer continue working for months until the designated termination date. Those who got laid off stop working on the notification day, still get paid for 1-2 months until the termination date. Both get the same severance package in terms of pay, but VRP offers better cobra insurance, it like 700+ vs ~2000 somebody posted before
@an, thanks for clarifying, sorry for any unintended confusion my response has caused.
@ab you didn’t answer her question. She is talking about years of employment adding weeks to the minimum severance. They do not stack/add.
In the past two rounds of VRP, those that accepted worked/are working up until the designated termination date. They knew their date months in advance for the first one, I don't remember how long the lead time was to termination in the second one, but I think it was at least a couple months.
what does VRP mean?
Really curious how they decided the number of weeks for paid on leave. Also, do they also give some weeks of paid on leave for VRP?
Yes, more years will earn more weeks of severance. The chart I believe explains this. But using your stated min number of 16 weeks for a band 4, If you have been here up to 8 years, you will walk with 16 weeks severance, if instead for example you have been here for 20 years, you will walk with 40 weeks severance. The max severance tops out at 52 weeks for everyone.
The notification day up to the termination day, you are still on the books as an employee, I recall reading they classify it as paid leave until your true termination date, on that day you are no longer an employee and that is when severance kicks in.
This is why it seems like some people can get more than 52 weeks. They are getting 52 weeks severance plus how ever many weeks during the notification period, currently at 2 months. I have noticed sometimes the notification period is 1 month, and sometimes 2, not sure how they determine that.
It doesn’t add.