How is unused vacation treated after layoff? Do they pay this out along with severance or should we use it before leaving.
5 replies (most recent on top)
If you leave involuntarily, you get full year of unused vacation paid out if your last day is after jan 31st, at least for US employees. Search for "Leaving Citi Guide" on the intranet.
For US employees, if you are laid off and your last day is after January 31st, you will get paid all unused vacation time for the entire year (not just the ones you accrued).
If you leave voluntarily, then you only get paid for unused vacation time that you accrued.
Sick days are not paid out so take them before you leave.
Rule of 60 for more tenured employees. If age + service = 60, you get full 2024 vacation payout regardless of accrued time.
Check with HR.. There is a formula for it.. But i believe every country may be slightly different Formula.
They pay you for any unused vacation days that you have accumulated to date