What is wrong with HCL? Some of us are laid off as of 11/1 and they still haven’t shared our severance numbers, they don’t know if our STI will be paid at 100% or 75%, they don’t know if we can keep/port our phone numbers. They haven’t answered if there will be a gap in benefits coverage between Nov and Cobra. I am really glad I am leaving this company.
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For those who have been terminated from HCL, were you required to participate in the redeployment process? My last day is May 1st and now I am required to provide my resume for redeployment? I do not want to be redeployed!!
You have 23.945205479452 years (let’s call it 24 years to simplify). The severance pays 2 weeks for every year service maxing out at 35. So 24 years x 2 = 48, but you max out at 35. I do not see anything extra here except what is the known VZ policy.
This is what we have been given:
Service Date 2/1/2001 A
Separation Date 1/6/2025 B
Tenure 23.945205479452 C (B-A)/365
Double Tenure 35 D (C*2) Tenure - maxed out at 35 weeks
Annual Salary (base + bonus) $100,000.00 E
Weekly Pay $1,923.08 F (E/52)
Severance Pay $67,307.69 G (G*D)
This is the "new" severance calculation for those of us who have a May 1, 2025 Termination Date. This is doubling the tenure.
@esc+1uPeEmQs, I'm not sure where you are getting your information. HCL is using the same severance model as Verizon. There is a minimum severance and I think it is 4 weeks. But for most, it is 2 weeks for every year working continuously up to 35 weeks. 5 years equals 10 weeks of severance pay. No more than 35 weeks of severance; no exceptions.
Can someone please verify if your years of service was less than 35 years, were you paid for 35 weeks of severance? We have been given a formula to calculate what to expect but according to the Verizon policy it is incorrect. It shows Yrs of Service times two times weekly compensation so that everyone gets 35 weeks of severance despite not working the 35 years.
Yes I got my package and my last day is Friday. I will get a regular 2 week paycheck on Friday. On Nov 15th (next pay day), I get a check for my last 2 weeks pay, STI, LTI, Retention Bonus and unused vacation.
Separately I have 45 days to sign the severance package. Once I sign, they have 21 days to pay the severance. It is a lump sum.
Are they paying cobra on a monthly basis or giving a lump sum equal to the monthly payments?
@ljzv+1uPeEmQs - When you say you got your package, Im assuming its the severance package information? Does it also say when are you going to get the actual payment? Thank you!
Yes. I’m leaving next week and got my package. They are paying the full cost of insurance premiums (Medical, Dental and Vision) for the full severance period (max 35 weeks).
Does anyone know if HCL covers the full payout of Cobra premium as part of the severance package?
My last day is Nov 1st and I got my final notice last week. The severance numbers are correct (same calculation as Verizon uses). STI paid at 75% for 7 months (Apr-Oct). LTI also pro rated 7 months. Retention bonus paid in full. I was 7T and VZ and E 2.2 at HCL and total payment came to 135k.
Make sure you have your personal email address entered under Profile; Communications; Internet address. That is where your severance package will be sent. You then have 45 days to review it, print it, sign and return. Payment will be issued 21 days after they get it back. At least, that is my understanding.
I’d be surprised if STI ends up paid as 75% as thats apparently how Verizon were doing it for partial year. Unless someone has written evidence that is wrong then I cant see it being challenged.
You should get the cost of checking with a legal representative if your severance package is correct. But I suspect they leave it so late to your exit date that you wont have time to do it and they will threaten you with loss of enhanced terms if you delay signing.
You would think the amount of company transfers and redundancies they have done they would have all these questions already answered.
They don’t want to show us the numbers because they can’t count. * They can't count past 20 because they run out of fingers and toes. * I work the same 80 hours every pay period….. Yet my checks are always different??? Technology company my a$$, they are a joke. I am scared they won’t pay out the severance correctly too and there won’t be any recourse for us to get it corrected.
I was also blown away that they still did not have outplacement services set up yet. Makes me laugh because this was the plan all along to lay us off. HCL had a year to prepare and is still clueless about this and a bunch of other stuff. They just don’t give $#!^.
And on the call, they said they would give us 2 hours to look for a new job, was that a day or a week?