I came here to see what’s going on with the mid-January layoffs, but I don't see any new information being posted. I’m not in the Automation Solution group, but I still expect layoffs every day because the atmosphere is more tense than ever.
I'm debating whether it’s worth waiting for severance pay or if it’s better to try a little harder and find another job before they laid me off. I wonder if there are any new cuts in severance packages?
9 replies (most recent on top)
It is always easier to find a job when you have one!
It's true.
And this is why when Emerson buys an European company they move production and function outside Europe in countries with much lower protection for workers.
Even if productivity is lower
Like I said before the European plan pays more that the typical U.S.!
There's a minimum redundancy calculator here:
https://www.gov.uk/calculate-your-redundancy-pay
One thing to remember is that you get 1.5 weeks per year, not 1 week, for years when you were over 40. For example a 50 year old who worked for the company for 15 years would be entitled to 5 weeks (1 week per year for ages 35 to 40) + (1.5 x 10) weeks (1.5 weeks per year for ages 40 to 50), so 20 weeks in total.
However the salary is capped at £525 / week, so even if this 50 year old earned much more than £525 / week, the minimum redundancy that the company would have to pay him would be 20 x £525 = £10,500.
Finally, I think I am right in saying that the first £30K or so of redundancy is tax free.
That’s great for Europeans that enjoy socialist programs that limit employers abilities to terminate your job than in the U.S.
Surprise to those who migrated to the U.S. on the N1B!
In Europe Automation Solution announced 40 layoffs.
They are offering 24 months pay to convince people to resign.
The funny thing is that in this way they push the best people, the ones who can get another job to find alternatives, resign, get the severance and start another better paid job.
This is what I did one year ago.
I got the severance on Friday and start a +20% paid job on Monday
It was sad to see that Emerson considered me an useless wreck after 15 years of service just because of my age and lack of political connection inside the organization.
But it was funny to say "f—" to a Company which has no respect for people and employees.
Like the other person said. 1 week for every year of employment and your unused vacation balance. So i wouldn't let the hopes of a severance package keep you.
I think the package is typically 1 week of pay for each year of service. I wouldn't count on much more than that. If you've only been around for less than 5 years you'll likely have a bigger gap between getting let go and finding a new job than it will be worth for the severance pay. Plus, it's much easier to find a job when you have a job.
What is the usual severance package?