Mainly, those over 60? Any additional benefits?
9 replies (most recent on top)
Gee I would like to be aged over 60 years old and get laid every week.
I got two weeks. Whoopee.
You should have zero expectations that DXC will do anything for your benefit or well being.
Sit down with a financial planner, map out your exit strategy, find the best possible job, and take the leap of faith.
If you flag your exit as "retired" in the US you can't collect unemployment insurance, so not a good thing.
If your over 55 you can contribute catch up to your 401K. I contribute 25% pretax and the max catch up so I have a little nest egg when I get RIFF'ed. I am over 50 1/2 so I can take it out without penalty too!
I worked for CSC left just prior to DXC. Do they still do a waterfall Match (MAP) on 401K ? If you are over 55 you can get flagged as retired and get your match, even though it is before the year end. That was the only age related benefit I ever found in the handbook and a group of us looked hard for them.
I dont know if your severance agreement excludes or includes MAP or if you have the ability to flag your exit as 'retired' instead of fired. It does have some company advantages to it (like lowering avg age of a layoff by eliminating older people).
If you are in U.S. DXC doesn't have to pay you ANY severance (unless state law says otherwise). It is better to leave on your own terms
Additional benefits for over 60s laid off? No. That might indicate a company that actually cared a little, which DXC does not.
In most countries DXC will pay the absolute minimum legally required. For contractual and related reasons, people in some countries receive a bit more that the legal minimum.
DXC tries to pay the absolute minimum on severance pay. I think country managers expect a bonus in case they can fire as many people for an as low as possible severance cost.
I know people in several countries in EU taking DXC to court as they even don't pay the severance they legally should.
Only if your local state/country law specifies such a thing.
DXC aren't giving you a penny more than they have to to meet the law or your contract terms.
Read your contract - get it from HR if you don't have it. Its all in there.