After being impacted on Wednesday, I have felt a range of emotions. But thankfully I will be ok financially. One of the reasons why is because Massachusetts requires PTO to be paid out in the last paycheck and I didn’t realize right away that my last paycheck was yesterday. Pretty hardcore to lay people off 3 days before their last check. Yes there is severance and unemployment but we will probably have to wait a few weeks before receiving those things. The last layoffs from my large group in January- folks had over 2 weeks to wrap things up and a bit more notice. Seems like they’re getting more heartless - save your money!
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Meh - both times I've been laid off, my employment ended on that day. I was shocked to hear that ppl had to the end of the week. That at least gives times to hand over your work to someone else. In the end it depends on the company.
This layoff and pandemic has taught me to become financially prepared even during unexpected times. Always good to keep at least 6-12 months of emergency fund. Took that advice from my financial advisor. I don't know if I want to stay in this industry any longer but let's hope for the best.
Nothing heartless about it, some got redundancy before pay, some after, some 2 weeks ago. Luck of the draw. But yes, save your money.
One of the things I found amazing in my team was that we are all paid the same but some are flat broke and have zero financial backing. No savings, no assets but they drive very expensive cars, rent expensive houses, private schools and dress in the best clothes and gadgets. So when times like this hit they panic.
Dell has even been very good here for years and and run financial management training for staff, you cant complain about that. Not many took them up.
Save your money always.
Now sure for how long the folks who survived this round are safe further
I have a strong feeling that this round of layoffs were supposed to actually occur around the 1st of the month - maybe they were delayed because of some work they wanted completed for VMworld or another reason. Fine by me - I would have used my PTO and not worked during my final days - much happier taking the cash. :) (But I’m sorry for those who live in Texas. They should have at least quickened the pace for the severance. At the very least).
Thanks for the heads up. I was laid off in August but luckily I had two weeks. I'm shocked that they only give them 2 days and seems like a rush time.
Sorry for those got laid off. Good luck in searching for new job!
Thanks for the heads up. Yes my friend was laid off - right before Covid hit - and he said it took a few weeks for UI. Seriously rethinking the corporate life right now. Good luck to all those impacted...
Yes it is out of the ordinary for the last paycheck to be in the same week you were laid off. As for unemployment it took 1 month for me to receive it via direct deposit. Unemployment sends Dell (EMC) paperwork to be filled out. You will probably then be enrolled in the RESEA program through Mass Unemployment and have to complete a seminar (online) and other specific items.