Found out today that a coworker of 23 years. Was RIFd last month. Not voluntary.
He did receive 23 weeks of severance. Can anyone else confirm this? I thought only volunteers recieved severance.
6 replies (most recent on top)
So is it 4 weeks separation pay - PLUS 1wk for every year of service?
Or just 1 wk for every year of service (min 4 wk for short timers).
If you are laid off (shove "RIF" up your a–) then you get severance. If you are fired for cause then all you are guaranteed is the boot. They MAY give you severance to avoid a fight, but that would depend on how solid the cause was.
I don't have it in front of me, but HR direct states: one month of seperation pay, followed by one week of severance pay for each year of service. Maximum payout total of 26 weeks. Partial years service will be prorated to days of pay. Accrued vacation will be payed in a lump sum. This applied to Olathe, and should be the same for all US, non union sites.
Pray you get rif before they eliminate severance pay like they'll be doing this year with 401k match.
No, the severance will be provided to you regardless of whether you volunteered or not (as long as you comply with all the legal stuff).
There isn't any real monetary advantage to volunteering anymore. Honeywell used to provide a better package if you volunteered in the past, but that won't occur anymore.
If you volunteer, it's more because you are have good morals and may be able to save someone else's job if you weren't going to get laid off without volunteering.
volunteers and non volunteers get the same severance.