Does anyone know about severance? Do you just wait it out in the marketplace till they let you go? If you don’t actually accept an internal interview then will you still receive severance when your time is up? They can offer a job but as long as you don’t accept an interview can you await your time to expire for a severance package?
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If they offer you an 80% of salary job and you decline it, you don't get severance. No they don't force you to interview at State Street. If you don't want to work there, of course you won't go on any State Street interviews, therefore they won't offer you any jobs and you will get the severance. They wouldn't offer you a job without an interview.
@9sgb+17sFB4Cs I got laid off in 2014 after working for State Street for many years. Yes, you are correct that with with current pandemic who knows what kind of opportunities will be available. We all need to remain optimistic and hope that they have a vaccine that will work and start moving in economy in a positive direction. Definitely not something that any of us has experienced in our lifetime and hopefully, will never happen again.
yes, if you do not apply to jobs on the site, then you can just wait your time out and still receive your severance.
Be grateful that they are giving workers the chance to interview for another job .,even if it pays only 80% of their current salary, As an old timer of 24 years I wish they had given me and my associates that option 15 years ago.
I got laid off in 2017, and last I heard they chopped either the minimum 10 weeks or the 2-3 weeks per year of service time, leaving one 1 of those options as the current severance. I had been there for close to 20 years so my severance was roughly a full years salary. I Thankfully landed on my feet, but now is a different time do to covid.
Correct me if I am wrong but severance is not mandatory in any way.
It is a benefit that State Street offers and can be pulled or adjusted however they see fit.
I think if you refuse an interview this may be considered by them, you refused a job offer.
Then they might have the right to deny you severance, since they did offer you a job.
I thought if you were laid off, you had to make an attempt to find a job internally and go to the interview if you get one. Unless that has changed.
Heard that if you don't accept an internal position that pays 80% of you current salary you won't get severance. Don't know about refusing interviews.