Confused, please help. Let's say an hourly wage employee makes 2K per week and has 10 years of continuous service. {Using round numbers for simplicity}
What is the enhanced benefit severance amount ($) for that employee?
TIA.
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The site stripped the asterisks. You get the idea....
It is confusing, but you'd need intelligence to realize it.
"2 weeks per year of continuous service. 2*10=20 weeks of severance. Severance payment is 100% of your normal paycheck. Your pay simply continues for 20 weeks past your termination date."
Since most are paid bi-weekly you're going to receive 10 payments at 100% pre-reduction pay not 20 weeks at 100% pay. Most med/large companies handle their severance the same way. However, leading companies usually provide clear, concise, example equations.
(20002)10=40000
One decent answer. Thank you. That's the way I did the calculation but some have done it in a different manner.
{Ignoring the adolescent ad-homs. Most civilized people would rather be ignorant than hateful.}
This cannot be for real. This must be a troll. Nobody could be this dumb.
It’s sad you cannot make a simple calculation like this!
It's sad that HR can't answer simple questions like this.
2 weeks per year of continuous service. 2*10=20 weeks of severance. Severance payment is 100% of your normal paycheck. Your pay simply continues for 20 weeks past your termination date.
i didnt realize hourly staff was even targeted
It depends on what level. Did you not read the email from Kim? What's your job level?