You get severance, but would need to wait until after 91 days to work in another of the company's store or you will have to pay back the severance. You will be considered a new employee in the company when you return.
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@ckk taxed initially as bonus, but depending on overall yearly income in most cases would be part of tax return, unless executive status?
Count on Macy’s to have analyzed this in every direction to give themselves the better end of the deal.
I worked in a closing store but we were given a choice to either take a severance or get transferred to another store. I choose to take a position at another store but there were many people who took a severance and then applied to a Macys store a year later. I know a lot of people who took the severance and now work at Macys again. I guess they got to have their cake and eat it too. But keep in mind, this was a couple of years ago. I don’t know that they would do now but it makes sense. Instead of giving open positions to seasonals like they usually do, they could could transfer the regular employees of a closing store to other stores around the area. But then again, Macys has become very cheap.
Also remember that Severance is taxed as a bonus, which is a much higher than a payroll tax.
It's not a stupid question but a somewhat old fashioned one. I have no idea if the employees will receive severance but companies have really gotten away from giving it unless you're in a decently paying job which of course makes no sense because who needs the money more?
Remember too that even if this round of closures provides severance, there is absolutely no guarantee that the next one will. To be blunt, don't count on it and definitely don't make life decisions based on expecting to receive severance.
I'm sorry if this is a stupid question, but I have no other way to find out. I don't work in any of the closing stores but I want to know for the future.