Wondering if anyone has credible info on how severance actually works. I know its 1 week for every year maxed out at 25.
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@k0 Thank you for clearing that up, I just found out my store is closing, and I definitely want my severance.
I can’t remember the full details when i went through the closing process but i will say this if you are planning on leaving take the severance and do not apply to any job within Macys. I was told if you apply and decide to decline an offer they give they are allowed to deny your severance pay. Also once you take the severance pay you aren’t allowed to work in Macys for 6 months. You come back earlier then that you will have to pay the severance back.
@ap Technically yes and no to the store closing bonus. During my experience the only people who got the bonus was management. Everyone else got nothing.
Any healthcare provided
How does it work for corporate employees? Is it still one week per year, or based on seniority?
One week per year work, four weeks minimum and twenty six weeks maximum. They will give you severance papers that outlines your intentions to stay or leave. If you tell them you want to stay, and then later decide to go, they don’t have to pay you severance. I’ve seen them pay severance even in that scenario but it’s not guaranteed. Also, to get the closing store bonus you have to stay until the end. I hope this helps.
1 week for every year 4 week min, 26 week max. If there is a another position they can provide you and you decline you probably do not get severance. I know in the past if they offered you severance and you chose to apply for another position but didn't get chosen, you forfeited your severance. Hourly and professional colleagues do have different guidelines. You can find it all in askHr under knowledge.