If rumor has it correct this is the week that the layoffs will be announced and implemented; it will be a very emotional period for those and their families going through it. Here are some items to remember. To assist you.
File for unemployment immediately with the Texas Workforce can be done online, but will give you another $400.00 + per week on the average. It takes on average 21 days to get the first check. Good for six months.
Read your package departure agreement and make sure it does not have ANY NONCOMPETE language in it.
If you are near your legal retirement age make sure you begin the process of signing up for Medicare A and B, COBRA is not considered valid health insurance by Medicare, you will be penalized if you miss the signup date. It is a snakepit of deadlines, don't miss them.
You have 30 days to sign up for COBRA, give it in writing and save it
Decide if you want to transfer your life insurance. Pioneer will allow it will cost more per month.
Get a letter from HR what you have been under a qualified health plan for the last 12 months. You will need it.
Get ready to live on the money you get now, the big 1.5 years check is three months off, so budget your money. As I tell my buds switch from Crown and Coke to Jack and Coke, and drink less.
Get the phone numbers for the HR help line especially R. S, the best help Pioneer has she is very knowledgeable. You will be talking with her many times over the next 6-8 months. Also get the stock options contact in Legal.
Hopefully you have made plans on the company phone, you will need one move all your contacts will help you as you job search.
Try not to borrow from your 401K or IRA, it you are 50 plus you need to be saving for your retirement.
Start working on your resume and start networking for the new positions.
Now just walk through that door to your future and the rest of your life, don't look back just forward