I'm not talking about early retirement or stuff like that. Regular layoffs. Is two weeks per year fair? Three? Cap or no cap?
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" You'll get paid whatever they can either legally give you at minimum"
There is no legal requirement for severance pay. They don't have to pay you anything.
These changes would get my whole team to quit:
Severance should be paid in stock only, to keep everyone loyal until the very end. Could even have the stock restricted to vest every other month for a year, to keep people from bad mouthing the company after they leave. This also gives us an avenue to quarterly dividends like Randy gets.
Freezing the pension for all employees is the only fair severance option. This also addresses the compensation gap between majority and majority groups, since most diversity hiring occurred after diversity initiatives really took off.
Finally, reclassify all of the network jobs as computer jobs so everyone can be FLSA exempt.
You'll get paid whatever they can either legally give you at minimum, or whatever their lawyers compute will keep their butts out of big lawsuit problems. You wont get a penny more. So that's what fair. No amount of thinking about it gonna make you 1 more cent.
Should not be 6 month cap. Agree with other posters, do what Verizon did, it’s a win-win, really a no brainer. Get a lot of (higher paid) employees off the books effortlessly. But T is too greedy, and doesn’t value employees, want to keep profits for themselves. It’s a shame.
BellSouth paid 1.5 years salary for an MVO in 2006 prior to the AT&T acquisition. It was a real sweet deal 😀. I am not aware of any cash severance that good since then. I took that offer. Everybody thought they would see an even better offer later but they thought wrong.
Be nice to get what the Turner folks in Atlanta got...2 yrs pay,...It is a joke to cap at 6 months especially considering some of the time people have put in.....
The current management severance capping it at 6 months was last revised in 2015 (the date is right on the plan doc). I believe it capped at a year prior to that, and may have previously been more than that as someone stated below.
If they were really interested in getting folks like me (25 years, management, in my 50's) to volunteer to go, they would make an enhanced offer. Clearly, they are not going to do that. So I'll continue to do the dance with them. I don't mind my job, and I have grown numb to the never ending layoff cycle. It doesn't bother me anymore. I don't want to leave the severance on the table, I've got kids in college. Might be different for someone in a different situation, or for someone that is completely miserable in their position.
I remember not that long ago the days when severance for management was a max of two years salary.
Remember Verizon froze managers pensions a while ago. So they are not A stellar example to use.
2 weeks pay per year. No cap
What Verizon did was with class, paid no bad news in the press or affect to thier stock price. ATT should do the same with upto 66 weeks pay, with benefits, let the people go who are now of age and willing to do so.
Ask your union Rep what is fair. They negotiated it.
They gave Ratty $270K/month and $1M a quarter in Dividends.
I think they could lift the severance to compete with Verizon!
It’s not about fair. At T it’s about money. If it was about fair the pay distributions would look different. No cap on severance.