Hey guys. I‘M pretty confident that I’m getting axed next week. What is severance look like? Isn’t it 2 weeks for each year served?
I’ve looked through elink and onestop and cannot find.
Thanks
10 replies (most recent on top)
Even easier, go to HROneStop, and type the word 'severance' into the search box. The top results will link to the severance plan section and all the documents on the plan.
This question has been asked and answered 789 times in the last week. Thanks for playing.
"Really they make it as difficult as possible for anyone to know how it's calculated in order to hide the fact that a VP let go after less than a year will get 6 months of severance, while a L2 grunt with 10 years may get one month (if they are lucky)".
Completely false and erroneous. All non bargained for severance is spelled out in the Management Severance Plan.
Severance is the hush money you get paid so you shut up and not complain since you just got the shaft for being too old for this company.
For management it is based on your tenure with a maximum of a 50% payout for 13 years or more. It tiers down for lower tenure. look in hr onestop and search Management Severance.
For union it will be based on your contract.
HR One Stop -> Quick Reference -> all are under "S"
It's not a shell game as the troll is calling it. It's clearly defined .
If memory serves (and it may not) severance is different depending on both tenure and level. L1 & L2 guys will probably get very little beyond the 2 weeks, even with more than say 5 years. As you go higher that severance grows exponentially.
Really they make it as difficult as possible for anyone to know how it's calculated in order to hide the fact that a VP let go after less than a year will get 6 months of severance, while a L2 grunt with 10 years may get one month (if they are lucky).
It's a shell game.
If you dont mind me asking what position?
What he said; roughly 2 wks per yr, cap at 6 months (26 weeks), so ~13 years service to get max
From memory, it's up a 1/2 month per year of service up to 12 or 13 (i.e., years served past 12 in NCS add nothing), with a cap at 6 mo. total. I have that somewhere in a document, but I've saved so many over the past couple years I'd have to go searching for it.
eLink can be very frustrating when you are trying to find a specific policy.
Again, this is from memory; do not take it as authoritative.