I was RIFd a couple of weeks ago. Non working notice until mid to late March.
I did receive an email outlining the rules of my notice period and it said I would receive a “separation package via Docusign” as soon as administratively possible, but I have not received it yet
Can anyone out there who has been RIFd before me, perhaps last year, advise of how long it was before you received your severance package via Docusign?
@b8 severance is paid in exchange for your waiving any claims against Citi. it's a contract and the consideration Citi is offering is severance. There is no legal requirement for any company to pay severance. I got mine about 3 weeks after the end of my non-working period and 2 weeks after signing the document. This was in 2024, so YMMV.
Most of the documents at this dumpster place makes zero sense. No one knows how anything works. They can't even get layoffs correct, this place speaks for itself.
@d5 The Citi Separation Pay Plan document does get confusing and appears contradictory. It says on page 8 that the company 'will make the separation payment in a single lump sum at the end of the notice period (or as soon thereafter as practical)'. But then on the next page, when the alarmingly long section on Claims Procedures starts, it says 'If you are eligible for benefits under the Plan, you'll be notified in writing of your benefits. If you don't receive such a notice within 60 days after your employment is terminated and you believe you're entitled to benefits under the Plan...you may file a written claim'. So first it says they pay out at the end of the notice period, then they say you may not even be notified that you're getting severance until 60 days after notice ends.
Yeah, that would make no sense. Thats like signing an offer letter 65 days after your start date
@bk listen if this is the timeline that was for you, then fine. I stated what has happened in my group. However, the severance agreement does not take 2 months from the termination date, especially with a 60-90 day notice period. That would be ridiculous. It is a standard agreement.
@b8 to sue. (duh) isn't that understood.
So if last day of non-working notice is March 20, you're saying I will not receive severance agreement until possibly the end of May, and then actual payout the end of July?
Correct depending on your state, if the notice period has not reached its termed offering date by the third Tues of the current month excluding equinox months or leap year, then the 60 day countdown starts on the previous 3rd day of the next week. Its as simple as all that. I don’t get why people are confused about all this.
I can assure you that Citi will take the route to keep the severance money for as long as they can so as to keep drawing interest on it longer. If they are slated to give you a check in two weeks, if there’s some option or loop hole to withhold it just a little longer, then that is the route they will go. If you believe otherwise, then you are naive.
@ar nope. You will receive the severance agreement 45-60 days after your notice period ends. After signing, it is another 45-60 days before you receive the severance payment.
Depending on which state you reside, you may or may not be able to get full unemployment benefits prior to receipt of the severance.
Emergency funds. This is where that 3-6 months of emergency funds comes into play.
@ar waive you rights to what?
you will receive the severance agreement about 2-3 weeks before your notice period ends. if you choose to sign, you don’t have to unless you wish to waive your rights in exchange for me pay, you will receive payment about 8 weeks after signing. you have 6 weeks sign it upon receipt.