Anyone in sales role get severance notice? Trying to figure out how they calculated annual base pay...they don’t show the breakdown. Are they multiplying your total 100% comp+salary by 80%?
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Sadly sales people do not get the team award. 80% of compensation is a failing sales person, not fair. Should be converted to corp salary.
In the critical documents link in the Portal they show you exactly how they determined your severance payout.
4% is approx 2 weeks pay based on 80%
geez. people are so mean here!!!
if you do the math 2 weeks is 3.84% of the year. And company is giving 4% per year up to 13 years where it tops out at 50% — which would equal 26 weeks of pay at the 80% calculation.
Good grief, ask your HR representative if you can’t figure it out
Ex: base $70000+52000(at risk)=$122000x.8=$97,600 then you get 4% of that per year up to 50%. If you have 13 years $97,600x.5=$48,800 this is what was in the updated severance policy on 7-9-2020 for sales at risk employees. Anyone stating anything about 2 weeks pay doesn’t know what they are talking about and I assume they are union employees.
Yes, read the severance guide. 80% of Base plus target incentive is your “yearly rate” and then 2 weeks per year of service up to 6
months.