Does anyone know what the RIF Package includes, have heard two different things.
It is something I am considering due to the RTO requirement.
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For original fisrv it was 2 weeks per year with no max, first data leveraged up and capped it at 26 weeks which is 6 months. Staying longer than 13 years is no longer worth it. Take the money and run
I was RIF’d in July after 17 years. Got paid severance of 26 weeks which is the max. Lump sum payment.
I thought that RIF Packages were spent and now they are forcing ppl out by RTO and relocation.
Just search for it on fuel.
If you have been here for less than six months you get nothing.
If you have been here more than six months to five years you get the minimum 10 weeks of severance.
If you have been here between five and 13 years you get two weeks of severance per year of service.
If you have been here 13 year or more you get the maximum severance of 26 weeks.
But you should really pay attention to page six where they say they can change the rules at any time.
I was told they would honor the severance, but that is exactly what they would say if they were not going to honor the severance.
Given some high level numbers for moving and told to think about it. Nothing definite yet on severance (was verbally told 2 wks per yr capped at 26). No dates yet if I did not choose to relocate to a tax incentive location.
I was told 2 weeks per year severance with a max of 26 weeks. Paid in lump sum.
@dof+1oUViTeh That’s incorrect. My management as well as HR have been able to give me exactly 0 information regarding severance or termination dates. They don’t know so I’m not sure how we the employees would know.
So I met with HR last week and asked what severance policy Fiserv would honor. It says multiple things in the severance policy and is impossible to tell by reading it. HR could not give me an answer because they don’t know either. It comes down to this. On pg. 6 if clearly states that this is a discretionary policy and they can give you $0, it doesn’t matter how well you worked or how long you’ve been there. They can legally give you zero. Don’t bank on anything better these days.
My advice is start looking.
Not a peep on severance.
People’s lives are completely being uprooted and here you are just trying to be nosy. If you were truly considering anything, YOU would already be aware of what the package is.