im worried about tomorrow (5/8) and trying to calm myself down thinking of possible severance package..
does anybody heard of what kind of severance package were given to those laid off these past months/years? i know if depends on the band/position but still curious what that looks like on certain bands/position that you know of
@a86 10 yrs service would be 20 weeks.
So Severance is minimum 18 weeks plus 2 weeks per year. Or 18 weeks or 2 weeks per year? So a person with 10 years of service will receive
@dz+1jtp6tdq7 No.
Interesting, didn’t know about that. Was that a more recent add to the severance policy?
“Band 4’s minimum is 18 weeks or 2 weeks per year of service.”
Kind of…employees earning $100K+ get 22 weeks regardless of tenure.
I suspect most Band 4 employees make $100K and up.
2 weeks per every FULL year. You are still an employee for a full month after notification date then severance starts. Reduction in cobra benefits (and it’s still outrageous). It’s on your normal pay cycles.
@ae+1jtp6tdq7 “Only” 5 months? You realize that’s generous, right? Especially for band 2.
Band 4’s minimum is 18 weeks or 2 weeks per year of service. So the minimum for band 4 at the same years of service is what you got at band 2.
im not from cigna but a friend of mine was. he was laid off in 2024. he is band 5, 4 years tenure. he got 1 month forced paid leave (he was still an employee for a month but his access are gone) , 6 months severance, half his corba is paid during severance and he has transition employment coaching thingie for 6 months
Severance varies based on tenure, salary, and career band.
The information can be found on iris.
I was laid off last year. Band 2. 10 years service and only got 5 months of severance pay…..