I’ve heard rumors that severance is changing in 2021 to one week per year of service or a set number of weeks but again I’m hearing via the rumor mill. Anyone on here in a position to know if the rumors are true (ie HR folks, privy to 2021 severance budgets, etc.)?
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They did not change severance package this year. Earlier post is incorrect. They will be changing next year. 2021 will have the highest amount of lay offs in company history. Good luck to us all.
Not true. They adjusted the US severance this year (G23 and below) to raise the minimum payable to ensure that people with lower tenure don’t exit with less than 12 weeks (10 weeks plus 2 weeks non working notice).
I would be surprised if this is true since this is used as a carrot to avoid being sued. For those long term employees, which there are a lot, I’m sure it will get a big negative reaction.