Has anyone or known anyone who were made redundant recently in the UK? What is the severance package? Would be great to have some information ahead of the announcement.
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Post ID: @dov+1qEm1elt So you're saying it's 3<=x<=12 months ? With one month for each year of service up to 12 years ? It looks like it does Not pay or is Not worth it to stay with Citi UK for greater than 12 years because if Laidoff, the Employees get no additional severance. Both the UK weeks and USA weeks do Not include any unused and accrued vacation days, and additional weeks under the USA OWBPA.
“a box of fish and chips” - - -lol
Post ID: @tyy+1qEm1elt yes, that is correct. This is standard across all large USA corporations in the UK.
@dov+1qEm1elt
Hi, thank you for sharing, so the overlap part between you and another person is that UK employee (new and old) will get at least three months salary? Is my understanding correct?
Post ID: @lki+1qEm1elt that is not correct. Read the emails. It is between 3 (floored for new employees) and 12 months (capped for old ones). 3 months plus between 1 and 12 months is a nonsense. I heard that couple of times from people in London and Warsaw and it is plain wrong and nonsensical.
Is all of the Uk 3 months notice?
oh yeah, I also got an autographed pic of Prince Harry!!
So the maximum layoff payout is 15 years' worth = 15 months salary = approx 60 weeks. UK/EU always have better medical benefits and treat their employees better even during layoffs. In the USA at Citi the maximum is 26 years service x 2 weeks severance + 12 weeks WARN (WARN depends on the state, could be 8 weeks) = 64 weeks or approx 16 months due to some months having 30 or 31 days. Note that in the USA you must work for 26 years, Not the UK 12 years in order to get the max payout.
a box of fish and chips but don’t confuse chips for crisps.
@xzs+1qEm1elt 200 isn't severe. That is only 2%
What kind of severance did these London employees get? Anyone has information on this?
3 month notice plus 1 Month pay for every year at Citi up to 12 months.
London office impacted severely. Approx 200 count is what I am hearing