I didn't find any changes so severance is 2 weeks pay per year of service but is the calendar year or from your anniversary date? Thank you just wondering as work load in my dept down over half from what we had 6 months ago
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AIG layoffs happen quarter after quarter year after year. IT IS NOT THE NORM it’s an antiquated business model !! Creepy. It’s from the 1980s with old creepy men at the helm!
I never have anything positive to say here, but based on my experience with other firms AIG severance is fair. I just wish they tried to manage the company better and had leaders' pay aligned with how the company performs. That's my biggest issue. But layoffs are part of the deal now everywhere, as are outsourcing, reading, etc. Best way to avoid it is keep skills and above all, contacts and relationships fresh. Don't rely on AIG to take care of you.
Severance is 2 weeks per year of service (your hire date starts the clock), 10 weeks minimum, 52 weeks maximum. In your last year of service, 6 months is rounded up to a year (5.5 years of service = 12 weeks severance)
Years of service is calculated based on your hire date.